According to the All Pakistan Sarafa Association, the price of one tola of gold decreased by Rs4,000 to Rs449,336. The price of 10 grams of gold also fell by Rs3,429, reaching Rs385,233.
Meanwhile, the price of silver remained unchanged in the local market at Rs6,802 per tola.
Gold prices also declined in the international bullion market, where the price of gold fell by $40 per ounce to $4,268.
The latest decline comes as gold prices recorded another significant drop in both the local and global markets.
