Gold prices in Pakistan fell for a fifth consecutive day on Saturday as international bullion rates dropped below $4,000 per ounce.

The continued decline pushed gold prices in both domestic and international markets to their lowest levels in five months, according to the All Sarafa Association.

In Pakistan, the price of 24-karat gold fell by Rs2,500 per tola to Rs422,036. Similarly, the price of 10 grams of gold dropped by Rs2,144 to Rs361,686.

The latest decline extends the recent downward trend in bullion prices. Local rates have followed international markets lower.

International Gold Prices Drop Below $4,000

International gold prices declined by $25 per ounce to $3,995. As a result, bullion fell below the key $4,000 threshold, putting further pressure on domestic prices.

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Gold has now recorded five consecutive sessions of losses in both local and international markets. According to the association, the latest figures mark a five-month low.

International bullion prices play an important role in Pakistan’s jewellery market. However, local gold rates also depend on currency movements and other market factors.

Silver Prices Also Decline

Silver prices also fell in Pakistan on Saturday. The price of silver dropped by Rs7 per tola to Rs5,858.

The declines in both gold and silver reflect continued weakness in the domestic precious metals market.

Buyers, traders and jewellers will continue to monitor international bullion prices for signs of a possible recovery.