Gold and silver prices are witnessing a sustained downward trend in the international market, triggering expectations of a significant reduction in precious metal prices in Pakistan as well.

In the global market, gold prices have fallen sharply by around 12 percent in recent days. The price of gold per ounce has dropped to about 4850 dollars, reflecting growing pressure on the bullion market. Silver has also faced a steep decline, losing nearly 30 percent of its value, with prices falling to 83 dollars per ounce.

Market data shows that just a day earlier, global gold prices had already declined by 355 dollars per ounce, bringing the rate down to around 5150 dollars. On Thursday, prices continued their slide with a further drop of about 300 dollars per ounce, strengthening the bearish trend.

Analysts say the continued fall in international prices is likely to impact the domestic market. As a result, a major reduction in gold prices is expected in Pakistan in the coming days.

On Wednesday, gold prices in Pakistan saw a massive decline of Rs 35500 per tola, providing temporary relief to buyers. At the same time, silver prices also dropped sharply, with a reduction of Rs 1106 per tola, bringing the rate down to Rs 11069 per tola.

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Separately, the government released its weekly inflation report, showing mixed price trends across essential commodities. According to the report, prices of 9 essential items declined, while 18 items became more expensive during the week.

Experts believe fluctuations in global commodity markets, currency movements, and demand trends will continue to influence gold and silver prices in the near term.