Higher US bond yields continue to weigh on precious metal

MG News | March 04, 2021 at 04:06 PM GMT+05:00

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March 4, 2021 (MLN): Gold extended its decline on Thursday owing to a surge in US bond Yields, making gold less attractive as it does not bear interest.

In the international market, gold price fell by USD 10 to settle at USD 1,713 per ounce against USD 1,723 per ounce in the previous session, while silver was valued at USD25.92 per ounce compared to USD26.55 an ounce on Wednesday.

Likewise, in the domestic bullion market, per tola price of 24 karat gold witnessed a sharp decline of Rs 1,900 and was available at Rs104,200 as opposed to Rs 106,100 per tola reported yesterday.

Similarly, 10-grams of 24 karat gold also dipped by Rs 1,629 to trade at Rs 89,335 against the previous close of Rs 90,964, data provided by All Sindh Sarah Jewellers Association revealed.

The per tola price of 24-karat silver and 10-gram of 24-karat silver slid by Rs 10 and Rs 8.6 to Rs 1,350 and Rs 1,157.40, respectively.

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Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	64,125.00	64,680.00 63,995.00	40.00 0.06%
BRENT CRUDE	75.22	77.52 75.22	-1.08 -1.42%
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