Gold prices in Pakistan reversed their recent gains on Monday, declining sharply in both domestic and international markets as global bullion rates came under pressure amid growing uncertainty surrounding potential negotiations between the United States and Iran.

In the international market, gold prices dropped by $49 per ounce, settling at $4,788 per ounce after investors reacted cautiously to geopolitical developments and volatile trading across Gulf and European markets.

Following the global trend, local gold rates also fell significantly. The price of gold per tola in Pakistan declined by Rs. 4,900, bringing it down to Rs. 501,162 per tola, compared to Rs. 506,062 per tola recorded on Saturday.

Similarly, the price of 10 grams of gold decreased by Rs. 4,201, reaching Rs. 429,665.

Silver prices also witnessed a downward adjustment. The rate of silver per tola dropped by Rs. 145, settling at Rs. 8,417.

Market analysts attributed the sudden correction to investor caution driven by geopolitical uncertainty and shifting expectations in global commodity markets, which prompted traders to reduce positions in precious metals after recent price highs.