The price of gold witnessed a sharp decline of Rs3,400 per tola in the local market on Thursday amid appreciation of the local currency against the US dollar.

According to the All Sindh Sarafa Jewellers Association, the price of gold settled at Rs144,900 per tola against its sale at Rs148,300 the previous day.

The price of 10-gram gold also decreased by Rs2,915 and was sold at Rs124,228 against Rs127,143.

In the international market, the price of the precious metal increased by $3 per ounce and was sold at $1712 against its sale at $$1709 a day earlier.

Meanwhile, the price of per tola and ten-gram silver remained unchanged at Rs1,620 and Rs.1,388.88 respectively.