After hitting record highs in domestic market, gold prices in Pakistan on Thursday declined despite an increase in the international rates.

In the local market, the price of gold per tola decreased Rs2,200 to Rs261,500, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

The 10-gram gold was sold at Rs224,194 after it registered a decrease of Rs1,886.

On the other hand, silver prices remained unchanged in the domestic market, with 24-karat silver being sold at Rs2,950 per tola and Rs2,529 per 10-gram.

On the global front, spot gold traded near $2,518 an ounce, up $9.9 or 0.39% from the previous session.

U.S. gold futures settled 1.3% lower at $2,343.

Platinum rose above the key level of $1,000 per ounce to a near one-year high. It was up 0.6% at $1,000.55 per ounce.