The price of gold on Wednesday witnessed a drop after the Pakistani rupee’s effort to be strong against the US dollar in the local market.

The price of 24-karat of pure gold declined by Rs1400 per tola to reach Rs195,600 per tola in the Pakistani yellow metal bazaar.

The All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) shows the price of 10 grams of 24 Karats gold dropped by Rs1,201 to settle at Rs167,695.

Yesterday, the South Asian country witnessed an increase of Rs1,500 per tola in gold price that closed at Rs197,000.

In the international market, the commodity price dropped by $8 to reach $1,840 per ounce.

Meanwhile, silver prices in the domestic market remained unchanged at Rs2,150 per tola and Rs1,843 per 10 grams, respectively.