Gold prices eased on Wednesday as it recorded a decline of Rs1,900 to clock-in at Rs232,600 per tola in the local market of Pakistan.

The price of gold 10 grammes also dipped by Rs1,629 to reach Rs199,417.

The prices eased a day after gold recorded a significant increase of Rs 4,600 and was available at Rs234,500 per tola.

The ease in the prices of the precious metal came despite the continuous depreciation in the value of the rupee which hit an all-time low in the open market.

The dollar was available at Rs312 after hiking by Rs6 in the open market on Wednesday. Likewise, the rupee declined by 63 paisas to hit Rs299.64 at the closing of the trading in the interbank foreign exchange market.