The gold prices in Pakistan took a major hit in early trading on Wednesday, reported 24NewsHD TV channel.

The price of 24-carat gold dropped by Rs2,000 and reached Rs121,200 per tola. While the rate of 22-carat gold reached Rs111,375 per tola and 21-carat gold per tola reached Rs106,312.

In the international market, the per ounce price of gold decreased by $25 and reached $1,987 per ounce.

On Tuesday, the gold price in Pakistan recorded an increase of Rs1,000.

The rate of silver also went up to Rs1,540 per 10 grams.