Gold prices in Pakistan registered a sharp decline on Thursday, mirroring a downturn in international bullion markets amid heightened geopolitical tensions in the Gulf.

According to the All-Pakistan Gems and Jewellers Sarafa Association, the price of gold per tola fell by Rs. 2,900, bringing it down to Rs. 540,362.

The rate for 10 grams of gold also dropped by Rs. 2,486 to Rs. 463,273.

A day earlier, gold had surged significantly, with the per-tola price climbing to Rs. 543,262 after gaining Rs. 3,700 during Wednesday’s trading session.

In the global market, gold prices declined by $29 to $5,176 per ounce, which included a premium of $20.

Silver prices also moved lower in the domestic market, falling by Rs. 179 to settle at Rs. 9,175 per tola.