The gold rates in Pakistan dropped on Tuesday, the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) reported.

The price of gold per tola (a unit of weight) in the local market decreased by Rs500, settling at Rs250,500.

Additionally, the price of 10 grams of gold decreased by Rs429, with the final selling price being Rs214,763, according to APGJSA.

The international gold rate decreased on Tuesday as it was $2,391 per ounce, including a premium of $20, after it declined by $11 during the day.

Conversely, the silver rate remained unchanged at Rs2,920 per tola.

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The per tola price of 24-karat gold decreased by Rs1,000 and was sold at Rs250,000 on July 21 against its sale at Rs251,000 on last trading day.

After reaching an all-time high of Rs254,000 per tola on July 19, the price fell by Rs3,000 to Rs251,000 per tola.