Gold prices witnessed a sharp decline in both local and international markets on Wednesday, with the price of gold per tola falling by Rs12,627 to Rs442,436.

According to market figures, the price of 10 grams of gold dropped by Rs11,364, bringing it down to Rs378,170.

In the international market, gold prices fell by $126 per ounce, taking the rate to $4,200 per ounce.

The significant decline in global gold prices was reflected in the domestic market, resulting in one of the biggest single-day drops in recent weeks.