Observer Report Islamabad
Gold traded flat in the international market on Thursday despite the latest pullback in the US dollar across the board.
At 1330 hours GMT, gold in the international market was available at $1810.60 per ounce after shedding $2 as compared to its closing value on Wednesday last.
Meanwhile, the price of 10 grams of yellow metal in Pakistan decreased to Rs95,500 after shedding Rs500.
The closing prices of the yellow metal in the country remained Rs96,000 on Wednesday last.
According to experts, the gold price is trading almost unchanged, unable to hold at higher levels.
The cautious tone across the European markets fuelled the risk-off flows in the US Treasuries, downing the yields alongside the dollar.
The daily technical chart for gold price shows a downside consolidative mode is underway, as bears cling onto the critical 21-Daily Moving Average (DMA) at $1811.
