The downtrend in gold prices continued for the second consecutive day on Saturday in the domestic markets, in line with the trend in international markets.

According to the All Pakistan Sarafa, Gems & Jewellers Association, 24-carat gold registered a decline of Rs400 per tola to Rs 493,662.

Similarly, the price of 10-gram gold witnessed a decline of Rs343, settling at Rs423,235.

Silver prices also saw a slight decline, with the price of a tola dropping Rs12 to Rs8,513.

Bearish trend prevailed on global markets, with gold trading at $4,713 per ounce after a $4 decrease.

Dealers said fluctuations in international gold prices were directly impacting local markets.

The previous day had seen a more significant drop in domestic gold prices, when 24-carat gold fell by Rs2,700 per tola to Rs494,062.