Islamabad
Gold prices came down slightly on Friday due to the US dollar’s rebound from one-month lows.
At 1400 hours GMT, gold in the international mar-ket was available at $1,825.40 per ounce after shed-ding $3.50 as compared to its closing value on Thursday last.
Meanwhile, the price of 10 grams of yellow metal in Pakistan decreased to Rs95,300. The closing prices of the yellow metal in the country remained Rs95,300 on Thursday last and the reason behind the flat rate was depreciation of Pakistan rupee against the US dollar.
According to experts, gold traded with a mild nega-tive bias around the $1,825 region, albeit lacked any follow-through selling.
A goodish US dollar re-bound from one-month lows in reaction to St Louis Fed President James Bullard’s hawkish comments, saying that the US central bank should taper asset purchases this fall and go fairly rapidly. This, in turn, was seen as a key factor that weighed on the dollar-denominated commodity. —TLTP
