Gold prices in Pakistan fell massively on Wednesday, reflecting a drop in international rates. In the local market, the price for gold per tola decreased by Rs3,000, bringing it to Rs271,700.

In addition, the price for 10 grams of gold dropped by Rs2,572, now selling at Rs232,939, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Tuesday, gold prices had already declined by Rs1,000, closing at Rs274,700.

Meanwhile, the international gold rate also fell on Wednesday. According to the APGJSA, it was priced at $2,617 per ounce (with a premium of $20), marking a $30 decrease during the day.

Silver prices remained unchanged at Rs3,050 per tola.

Last month, gold prices reached an all-time high of Rs277,000 per tola in Pakistan.