Gold prices in Pakistan continued to decline for the second consecutive day after the rupee made massive gains against the dollar on Tuesday, reported 24NewsHD TV channel.

The price of gold (24 carats) decreased by Rs2,200 per tola and Rs1,887 per 10 grams to settle at Rs205,000 and Rs175,754, respectively.

Meanwhile, the price of the yellow metal increased for the second time by $17 to settle at $1,929 per ounce in the international market today.

The price of silver managed to remain unchanged at Rs2,500 per tola and Rs2143.34 per 10 grams, respectively.

Despite an increase in the prices of bullion internationally, the local market saw a decline as the local currency recovered by Rs10.5 against the greenback.

The local currency closed at Rs275.44 against the greenback, gaining Rs10.5 or 3.83% in the interbank market after the government signed a staff-level agreement (SLA) with the International Monetary Fund (IMF) for a $3 billion financing facility.