Gold prices witnessed a sharp decline on Wednesday, falling significantly from record highs in Pakistan.

Following the drop in international and domestic markets, the price of gold in Pakistan fell to Rs437,362 per tola. Similarly, the price of 10 grams of gold decreased by Rs6,463 to Rs374,967.

Overall, gold prices have risen by 60 percent this year, driven by geopolitical and economic uncertainties and lower interest rates.

The local market has also reflected the downward trend, making gold relatively cheaper for buyers, though further fluctuations are expected globally.