According to the Sindh Sarrafa Association, the price of gold settled at Rs145,300 after a decline by Rs1,850 while the price of 10 grams decreased by Rs1,586 and settled at Rs124,571.

The decline comes after the rupee showed a little improvement against major currencies as the government claimed that it was close to a revival of a bailout package and productive talks were in progress with the global money lender.

Meanwhile, the price of gold in the international market increased by $6 and was sold at $1839 per ounce up from $1833 the previous day.

The prices per tola of 10 grams of silver stayed put at Rs1560 and Rs1,337.44, respectively.