Gold price increases as US dollar, bond yield fall

By MG News | July 08, 2021 at 04:55 PM GMT+05:00

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July 8, 2021 (MLN): Stretching gains into a second straight session, gold prices in Pakistan’s bullion market settled at Rs109,700 per tola for 24-karat, up by Rs300 from the previous closing of Rs109,400 per tola.

Likewise, the price of 10-gram of 24k gold also witnessed an increase of Rs257 and traded at Rs94,050 while the 10gm 22k gold pegged at Rs86,213, as per the data provided by the All Sindh Sarafa Jewellers Association.

On the other hand, the price of 24-Karat silver per tola and 10-gram silver remained stagnant at Rs1,440 and Rs1,234.56, respectively.

In the international market, the price of gold inched up by $7 to $1,815 per ounce as the dollar eased and US treasury bond yields fell, making gold more attractive to investors. Meanwhile, the price of silver was traded at $26.12 an ounce, the association reported.

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