Gold prices in Pakistan fell on Wednesday, tracking a decline in the international market.

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold dropped by Rs1,000 per tola to Rs419,362. The rate for 10 grams fell by Rs857 to Rs359,535.

A day earlier, gold had already slipped by Rs3,500 per tola to settle at Rs420,362.

In the global market, gold prices declined by $10 to $3,970 per ounce, including a $20 premium.

Silver prices in the local market remained unchanged at Rs5,022 per tola.

Meanwhile, international spot gold rose 0.8% to $3,961.85 per ounce by 0346 GMT, recovering slightly after a sharp drop of over 1.5% in the previous session, its lowest level since October 30.

US gold futures for December delivery edged up 0.2% to $3,970.10.