Likewise, the 10-gram gold decreased by Rs1,458 and was selling at Rs214,506, according to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).

A day earlier, gold price per tola hit a record high of Rs251,900.  Meanwhile, silver rates remained stable at Rs2,780 per tola.

Due to tensions in the Middle East, spot gold eased for a second consecutive day after being unable to surpass the $2,400 mark. The US Dollar trades marginally lower against its major rivals despite resurgent risk aversion following Wall Street’s opening. Asian stocks traded mixed, but European indexes were mostly up, as market players seemed to accept interest rate cuts in the United States (US) are on hold for now. However, US indexes quickly turned south at the beginning of the session, undermining the sentiment.

Meanwhile, US government bond yields are retreating. After flirting with 2024 highs, the 10-year Treasury note offers 4.60%, down 5 basis points (bps), while the 2-year note is down 4 bps, now yielding 4.92 per cent.