Gold prices in Pakistan declined on Friday, ending a two-day upward trend as international bullion markets saw a minor correction.

According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold per tola dropped by Rs. 2,700 to settle at Rs. 494,062. Similarly, the price of 10 grams fell by Rs. 2,315, bringing it down to Rs. 423,578.

In global trading, gold slipped by $27 per ounce to $4,717, reflecting a mild downturn in demand after recent volatility.

Silver, however, moved in the opposite direction. The per tola price increased by Rs. 80, reaching Rs. 8,525.

Market sentiment remained broadly stable, with precious metals reacting to easing geopolitical tensions following brief naval tensions in the Strait of Hormuz, where a ceasefire continues to hold despite earlier clashes between Iranian and US forces. Precious metals and currency markets still managed to close the week on a relatively steady note.