Gold prices in Pakistan declined for the second consecutive day on Tuesday, tracking losses in international bullion markets as traders reacted cautiously to ongoing uncertainty surrounding US-Iran diplomatic developments.

In global markets, gold prices fell by $10 per ounce, settling at $4,778 per ounce.

Following the international trend, domestic bullion rates also moved lower. The price of gold per tola dropped by Rs. 1,000, bringing it down to Rs. 500,162 per tola, compared with Rs. 501,162 recorded a day earlier.

Similarly, the price of 10 grams of gold decreased by Rs. 857 to Rs. 428,808.

Market participants reported cautious trading activity across Gulf and European markets, with investors closely monitoring geopolitical signals linked to US-Iran negotiations, which continue to influence precious metal prices globally.

Silver prices also registered a decline. The per tola rate of silver fell by Rs. 59, settling at Rs. 8,358.

Analysts noted that fluctuations in global sentiment and geopolitical uncertainty remain key drivers of short-term movements in bullion prices.