Gold and silver prices witnessed a significant drop in both international and domestic markets, providing relief to buyers after recent record highs, 24NewsHD TV channel reported on Wednesday.
According to market data, the international price of gold fell by $86 per ounce, bringing it down to $4,454 per ounce.
The decline in global prices was reflected in the local market, where gold recorded substantial losses.
The price of gold per tola decreased by Rs8,600, bringing the new rate down to Rs467,762 per tola.
Similarly, the price of 10 grams of gold fell by Rs7,373 to settle at Rs401,030.
Silver prices also moved lower, with the rate per tola declining by Rs259.
Following the decrease, silver was trading at Rs7,894 per tola in the domestic market.
Market analysts attributed the decline to weakness in international precious metals markets, where fluctuations in investor sentiment and global economic factors continued to influence prices.
Despite the latest drop, gold remains one of the most closely watched investment assets, with traders continuing to monitor developments in international markets for further price direction.
Reporter: Ashraf Khan