After increasing in the previous session, gold prices in Pakistan decreased on Tuesday in line with their decrease in international rates. In the local market, the price of gold per tola declined by Rs500, clocking in at Rs283,200.

Similarly, 10-gram gold was sold at Rs242,798 after it recorded a decrease of Rs429, according to rates shared by the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA).

On Monday, gold price per tola increased by Rs700 to settle at Rs283,700.

Meanwhile, the international rate of gold decreased on Tuesday. As per APGJSA, the rate was at $2,737 per ounce (with a premium of $20) and was down by $5 during the day.

Meanwhile, silver remained unchanged at Rs3,430 per tola.

Last month, gold hit an all-time high of Rs287,900 per tola in Pakistan.

Globally, gold was little changed on Tuesday as investors refrained from taking big bets ahead of the US presidential election, with the Federal Reserve policy meeting due later this week also in focus.