Gold subdued on stronger dollar, yields

September 27, 2021 (MLN): The gold rate was subdued on Monday in the international market as it reached $1750 an ounce on rising US bond yields and a stronger dollar, as investors awaited speeches from the Federal Reserve policymakers for getting clues on the central bank’s rate hike timeline.

While silver was valued at $22.62 per ounce.

On the domestic front, the gold prices inched higher in the bullion market as the 24-karat gold price went up by only Rs50 to settle at Rs113,550 per tola. While 10-gram gold price closed at Rs97,351, up by Rs43, Karachi Sarafa and Jewellers Association reported.

On the contrary, the price of 24-karat silver remained stagnant at Rs1,400. Likewise, the price of 10-gram silver stayed flat at Rs1,200.27.

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Posted on: 2021-09-27T18:49:51+05:00