Gold prices decline in local and global markets
In the local market, gold price per tola lost Rs1,600 on Wednesday to settle at Rs301,500.Similarly, 10-gram gold was sold at Rs258,487 after it recorded a decrease of Rs1,372, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).On Tuesday, gold price per tola gained Rs100 to reach an all-time high of Rs303,100.Meanwhile, the international rate of gold decreased on Wednesday. As per APGJSA, the rate was at $2,888 per ounce (with a premium of $20) and was down by $16 during the day.Meanwhile, silver prices remained stable at Rs3,312 per tola.Internationally, gold prices slipped on Wednesday after rising to an all-time high in the previous session, as Federal Reserve Chair Jerome Powell’s hawkish comment cemented views of slower rate cuts this year, while investors awaited a key US inflation report. SuchTV, 12 Feb, 2025
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