Local and international gold prices witnessed a sharp decline, with rates falling significantly in both domestic and global markets on Wednesday.

According to market data, gold prices in Pakistan have decreased by Rs6,800 per tola and Rs5,830 per 10 grams.

Following the drop, the price of gold per tola has settled at Rs 470,362, while 10 grams of gold is being sold at Rs43,259.

In the international market, gold prices have also fallen by $68 per ounce, bringing the rate down to $4,480 per ounce.