KARACHI: Gold prices continued their downward trend in Pakistan, with the per tola rate falling below Rs491,000 as global bullion prices weakened.

The decline marks the fifth consecutive session of losses, following a drop of Rs1,200 per tola in the previous session, when prices had already extended their fall for a fourth straight day.

Gold prices fall for fourth straight day in Pakistan as global rates decline

According to market data, the price of gold per tola decreased by Rs2,900 to Rs490,862, while the rate for 10 grams fell by Rs2,486 to Rs420,835.

In the international bullion market, gold prices declined by $29 per ounce, contributing to continued pressure on domestic rates.

Silver prices also moved lower, with per tola rates dropping by Rs142 to Rs7,957 and 10 grams falling by Rs122 to Rs6,821.

Bullion traders said the local market is closely tracking global trends, with softer international prices driving the decline. Analysts noted that investor sentiment and broader economic conditions continue to influence price movements.

The ongoing correction follows a period of strong gains that had pushed gold to elevated levels, with market observers saying the latest dip may offer some relief to buyers.