Gold prices in Pakistan fell on Wednesday, mirroring losses in the international market.

In the local market, the price of gold dropped by Rs1,200 per tola to Rs498,962. The rate for 10 grams declined by Rs1,029 to Rs427,779, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

A day earlier, gold had slipped by Rs1,000 per tola to settle at Rs500,162.

In the international market, gold prices eased by $12 to $4,766 per ounce, including a $20 premium.

Silver prices also moved lower, falling by Rs34 to Rs8,324 per tola.