KARACHI: Gold prices recorded a sharp decline in international and local markets, with the price of one tola falling by Rs10,800 to Rs409,736.
According to market data, the price of 10 grams of gold dropped by Rs9,259 to Rs351,282.
In the international bullion market, gold prices declined by $108 per ounce to $3,872.
Silver prices also moved downward, with the price of one tola falling by Rs142 to Rs5,388.
The continued decline marks the sixth consecutive day of losses for both precious metals in global and domestic markets.
Gold is traditionally considered a safe-haven investment, with demand often increasing during periods of inflation, political uncertainty and economic instability.
Investors commonly turn to gold when confidence in other asset classes weakens, as the precious metal has historically been used as a store of wealth.
Pakistan has also revised its gold pricing mechanism, under which domestic gold prices are set at $20 per ounce above the international market rate.
Earlier, Gold prices in Pakistan fell sharply on Friday, declining by Rs5,100 per tola, according to the All Pakistan Gems and Jewellers Association.
The price of gold dropped to Rs420,536 per tola after the latest reduction.
Similarly, the price of 10 grams of gold decreased by Rs4,373 to Rs360,541.
Gold prices also declined in the international market, falling by $51 per ounce to $3,980.
