Gold prices remained under pressure amid rising US bond yields

MG News | January 11, 2021 at 05:35 PM GMT+05:00

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January 11, 2021 (MLN): Gold prices remained under pressure today due to a sudden lift in US bond yields that increased the holding cost of non-yielding assets like gold.

In the domestic bullion market, the price of 24 karat gold came down by a further Rs 100 to Rs113,200 per tola against the price of Rs 114,600 per tola reported on Friday.

According to the data released by the All Sindh Saraf Jewellers Association, the price of 10-gram gold also dropped by Rs 85 to Rs 97,051 against the price of Rs 98,251 reported in the previous.

On the other hand, the price of 24 karat silver tola and 10-gram silver tola remained static at Rs 1,300 and Rs 1,114.54, respectively.

In the international market, Gold prices closed flat at US $1,850 an ounce, while silver was valued at US $25.17 an ounce.

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