Gold and silver prices declined further in both international and domestic markets on Friday.

In the international bullion market, the price of gold fell by $81 per ounce to reach $4,686.

In Pakistan, the price of gold per tola decreased by Rs8,100 to Rs491,362, while the price per 10 grams fell by Rs6,945 to Rs421,263.

Silver prices also recorded a decline, with the per tola rate falling by Rs50 to Rs7,684.

The price of silver per 10 grams decreased by Rs43 to Rs6,587.

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Earlier on Thursday, gold prices in Pakistan plunged, mirroring a steep decline in the international market, where bullion extended losses for a seventh consecutive session amid rising geopolitical tensions and inflation concerns.

In the domestic market, the price of gold per tola dropped by Rs24,300 to settle at Rs499,462, according to rates issued by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). Similarly, the price of 10 grams of gold fell by Rs20,833 to Rs428,208.

The sharp decline comes a day after gold prices remained unchanged at Rs523,762 per tola on Wednesday, indicating heightened volatility in the local bullion market. Silver prices also followed the downward trend on Thursday, decreasing by Rs760 to Rs7,734 per tola.

In the global market, spot gold fell nearly 4% to $4,629.29 per ounce by late Thursday morning trading, marking its lowest level since early February, according to Reuters. Meanwhile, US gold futures for April delivery dropped 5.4% to $4,632.40 per ounce.