After seven straight days of increases, gold and silver prices witnessed their first decline in both international and domestic markets.

In the global bullion market, the price of gold per ounce dropped by 7 dollars, settling at 5178 dollars. The downward trend in international prices also impacted the local market, leading to a decline in gold rates across the country.

In Pakistan, the price of gold per tola fell by Rs700, bringing it down to Rs540562. Similarly, the price of 10 grams of gold decreased by Rs600, reaching Rs463444. The drop provided slight relief to buyers after a week of continuous price hikes.

Silver prices also followed the same trend. The per tola price of silver declined by Rs350 to Rs9204, while the price of 10 grams of silver dropped by Rs301, settling at Rs7890.

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Market analysts say the correction in prices comes after sustained gains driven by global economic uncertainty and fluctuating currency trends. Experts believe that movements in the international bullion market, particularly changes in the US dollar and investor sentiment, directly influence local gold and silver prices.

Traders are now closely monitoring global developments to assess whether this decline signals a short-term correction or the beginning of a broader downward trend.