Gold prices in Pakistan recorded a sharp decline on Thursday, reversing gains made during the previous two trading sessions.

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola fell by Rs11,000 to settle at Rs468,262. Similarly, the rate for 10 grams of gold dropped by Rs9,430, closing at Rs401,459.

The correction comes a day after gold surged to Rs479,262 per tola on Wednesday, when prices had climbed by Rs15,200 amid strong upward momentum.

In the international market, gold prices also moved lower, declining by $110 to reach $4,455 per ounce, including a premium of $20.

Silver prices followed the downward trend, falling by Rs340 to settle at Rs7,484 per tola in the local market.