Gold prices in Pakistan experienced a sharp decline today following a slump in international rates.

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of one tola dropped by Rs. 7,100 to Rs. 486,962, while 10 grams fell by Rs. 66,087 to Rs. 417,491.

Earlier on Wednesday, gold had surged to Rs. 494,062 per tola after a gain of Rs. 15,300 during the session. The international market, meanwhile, saw gold prices fall by $71 to $4,542 per ounce, with an added $20 premium.

Silver also registered a decline, slipping Rs. 350 to close at Rs. 7,634 per tola.