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Friday, November 29, 2024

Home Business Gold jumps to Rs99,600/10gm due to dip in rupee

Gold jumps to Rs99,600/10gm due to dip in rupee

by News desk
October 21, 2021
in Business

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Islamabad

Gold price jumped around one percent in the international market on Wednesday amid a pull-back in the US Treasury yields.

Gold in the international market was available at $1,787.10 per ounce after gaining $17 at 1305 hours GMT.

Meanwhile, the price of 10 grams of yellow metal in Pakistan increased to Rs99,600 on Wednesday after gaining Rs1,900. Gold in the local market was available at Rs97,700 per 10 grams on Monday last.

The increase in price of gold in the local market was also due to depreciation of the rupee against the US dollar, which fell by 0.40 percent on Wednesday.

According to experts, gold price is holding the higher ground due to a pull-back in the US 10-year Treasury.—TLTP