Gold prices in the domestic market fell by Rs 5,300 per tola over the past week, while silver dropped by Rs 310, according to local market data.
The decline marks a significant reversal for precious metals, which have typically rallied during periods of heightened geopolitical risk.
This week's drop occurred against the backdrop of an escalated US-Iran conflict following the collapse of a brief ceasefire, suggesting that investors are prioritizing liquidity or other assets over traditional safe havens.
The downward trajectory for gold and silver has persisted for several days, extending a broader period of weakness across global bullion markets.
Previous reports indicated that gold prices in Pakistan had already fallen by Rs 5,200 per tola earlier in the week, tracking losses in international benchmarks.
The continued selling pressure indicates that the initial shock of the geopolitical escalation has not translated into sustained buying interest for physical metals.