Gold prices declined sharply in local and international markets after gaining for two consecutive days.

According to the Sarafa Association, the price of 24-karat gold fell by Rs6,500 per tola in Pakistan. It settled at Rs429,136.

Similarly, the price of 10 grams of gold dropped by Rs5,573 to Rs367,914.

Silver Prices Also Decline

Silver prices also recorded a decline in the local market.

The price of silver fell by Rs85 per tola to reach Rs5,678.

International Gold Falls Below $4,100

In the international market, gold prices dropped below $4,100 per ounce.

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The price of an ounce of gold declined by $65 to settle at $4,066.

The latest decline followed two consecutive sessions of gains in gold prices.