Gold rates in Pakistan fell sharply on Tuesday, reversing the gains recorded on Monday as international bullion prices took a downturn.

Locally, the price of gold per tola dropped by Rs. 13,900, settling at Rs. 549,962. Similarly, 10 grams of gold fell by Rs. 11,917, trading at Rs. 471,503, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Monday, the market had seen a rally, with gold per tola rising by Rs. 13,300 to Rs. 563,862, driven by short-term bullish sentiments.

Globally, gold prices continued to slide, falling by $139 to $5,272 per ounce, including a $20 premium.

Silver also experienced a decline in Pakistan, with the per tola price slipping Rs. 1,146 to Rs. 8,904.