Gold prices in Pakistan declined for the second straight day on Saturday, following a slight pullback in international bullion markets.

Data released by the All Pakistan Sarafa Gems and Jewellers Association showed that the price of gold per tola fell by Rs. 400, settling at Rs. 493,662 in local markets.

The price of 10 grams of gold also moved lower, dropping Rs. 343 to close at Rs. 423,235.

Globally, gold witnessed a modest decline, with international rates slipping by $4 per ounce to $4,713 per ounce, influencing domestic prices.

Silver prices followed the same trend. Per tola silver decreased by Rs. 12, reaching Rs. 8,513.

Market analysts attributed the cautious trading activity to investor reaction to ongoing tensions near the Strait of Hormuz involving Iran and US naval forces, although the ceasefire currently remains in place.