The gold rate in Pakistan fell by a significant amount on Thursday, after decreasing by Rs7,800 from the rate on Wednesday. The precious metal was priced at Rs197,200 per tola.

The price of 10 gram (24-carat) gold stood at Rs169,070, after a decline of Rs6,684, according to rates shared by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).

In the international market, the gold rate per ounce was recorded at $1,885, up by $13 from the previous close.

On Wednesday, the gold price recorded a significant increase of Rs5,500 per tola after a hike in the international gold price amid the tension in the Middle East.

The price of per tola gold rose by Rs5,500 to Rs205,000. Similarly, the price for 10 grammes of gold increased by Rs4,715 to Rs175,754 in the local market of Pakistan.