Against the international market trend, the gold price in Pakistan witnessed a big decline by Rs1,900 per tola on Wednesday, reported the 24News HD TV channel.
The price of gold (24 carats) fell to Rs2,32,600 per tola after losing Rs1,900 and the price of 10 grams of gold decreased by Rs1,629 to settle at Rs1,99,417, according to the data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA).
The yellow metal of 22 karats of gold which is usually used for jewellery making, sold at the rate of Rs1,82,799 per 10 grams in the local market.
The price of gold reached 1904 US dollars per ounce after a decrease of 3 US dollars in the international market on Wednesday.
According to the Jewellers Association, the Pakistani market did not follow the trend of the international gold market and reduced gold prices.
On the other hand, the price of 24 karat silver per tola and per 10 grams also remained the same at Rs2,800 and Rs2,400.54 respectively.