In both international and domestic markets, gold and silver prices recorded a decline after a gap of seven days on Thursday.
In the global bullion market, the price of gold per ounce dropped by $7 to $5,178.
In the local market of Karachi, the price of gold per tola fell by Rs700 to Rs540,562, while the rate of 10 grams decreased by Rs600 to Rs463,444.
Silver prices also showed a downward trend. The price of silver per tola decreased by Rs350 to Rs9,204, and the price of 10 grams fell by Rs301 to Rs7,890.
Spot gold rose slightly by 0.4 percent to $5,190.01 per ounce as of 0816 GMT. Earlier, bullion had reached a high level in more than three weeks on Tuesday.
Gold futures in the United States for April delivery also fell by 0.4 percent to $5,206.80.
Gold prices had reached a record high of $5,594.82 on January 29 and have increased by around 20 percent so far this year.
Spot silver declined by 1.4 percent to $88.18 per ounce. Meanwhile, spot platinum increased by 0.9 percent to $2,308.11 per ounce, and palladium rose by 0.3 percent to $1,800.14 per ounce.
Earlier on Wednesday, gold prices continued their upward movement by following international market gains as investors turned toward safe-haven assets amid renewed tariff concerns and ongoing geopolitical tensions between the United States and Iran.
According to the All-Pakistan Gems and Jewellers Sarafa Association, the price of 24-karat gold per tola increased by Rs1,300 to settle at Rs541,262 in the local market. Similarly, the price of 10 grams of gold rose by Rs1,114 to Rs464,044.
The rise followed Tuesday’s sharp increase when gold per tola jumped by Rs3,400 to close at Rs539,962, showing continued demand in both domestic and international markets.
Silver prices also moved upward, with per tola rates rising by Rs268 to Rs9,554, reflecting the overall bullish trend.
In the international market, spot gold climbed 0.5 percent to $5,172.17 per ounce by 1437 GMT, while US gold futures for April delivery gained 0.3 percent to $5,191, based on data reported by Reuters.
Meanwhile, platinum prices reached their highest level since January 29 in global trading, indicating broader strength in precious metal markets.