Gold prices witnessed a sharp decline in Pakistan on Saturday, tracking losses in international markets.

According to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola fell by Rs12,489 to settle at Rs455,327. Likewise, the price of 10 grams of gold dropped by Rs11,240, bringing it down to Rs389,772.

The latest decline follows Friday’s decrease of Rs1,469 per tola, when gold closed at Rs467,816.

In the international market, gold prices fell by $124 per ounce to $4,328, including a premium of $20, exerting downward pressure on local rates.

Silver prices also moved lower, with the per-tola rate declining by Rs463 to Rs7,267.