Pakistan, June 3 -- Gold prices in Pakistan fell sharply on Wednesday, with the per-tola rate dropping by Rs8,600. The decline matters because it reflects a significant correction in precious metals markets. Investors, traders, and consumers across the country are directly affected by the price movement.

According to rates issued by the All-Pakistan Gems and Jewellers Sarafa Association, gold was sold at Rs467,762 per tola. The price of 10 grams of gold also declined by Rs7,373, settling at Rs401,030. The fall reversed part of the gains recorded during the previous trading session.

Read more: Gold prices surge again as market nears record highs

A day earlier, gold prices had risen by Rs4,600 per tola, reaching Rs476,362. However, the u...