Gold prices in Pakistan extended their losing streak for a fifth consecutive day on Saturday, with the cumulative decline reaching Rs. 17,000 per tola over the past five trading sessions.

According to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-karat gold fell by Rs. 2,500 to Rs. 422,036 per tola.

The price of 10 grams of 24-karat gold dropped by Rs. 2,144 to Rs. 361,827, while 22-karat gold fell by Rs. 1,966 to Rs. 331,686 per 10 grams.

The latest decline continues a sharp downward trend that began on Tuesday, when gold lost Rs. 3,600 per tola. It fell by another Rs. 900 on Wednesday and Rs. 3,000 on Thursday before recording the biggest single-day drop of the week on Friday, when prices plunged by Rs. 7,000.

Before the current slide, gold was trading at Rs. 439,036 per tola. The latest rate also places it around Rs. 20,000 below its monthly high of Rs. 442,036, recorded on October 10.

The local market mirrored weakness in international bullion markets, where gold slipped by $25 to $3,995 per ounce.

Silver prices also edged lower. The price of silver declined by Rs. 7 to Rs. 5,858 per tola, while 10 grams of silver fell by Rs. 6 to Rs. 5,022.

The five-day decline has erased the gains gold made earlier this month, when prices briefly climbed above Rs. 442,000 per tola.