Gold prices in Pakistan rebounded strongly on Tuesday, tracking a sharp rally in the international market.

In the local market, gold rose by Rs24,000 to Rs514,362 per tola, according to rates issued by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

The price of 10-gram gold climbed by Rs20,576 to Rs440,982.

The rebound followed heavy losses in recent sessions. On Monday, gold had fallen Rs21,500 to Rs490,362 per tola. Overall, the metal had shed Rs85,500 per tola over the previous three sessions.

In the international market, gold jumped $240 to $4,916 per ounce, including a $20 premium.

Meanwhile, silver prices also moved higher, rising by Rs741 to Rs9,146 per tola.