Gold dips to Rs97,600 per 10gm amid rebound in US treasury yield


Gold price went down by around 1.35 percent due to rebound in the US Treasury yields on Friday after remaining high for three consecutive days.

Gold in the international market was available at $1,771.90 per ounce after shedding $25.30 at 1235 hours GMT.

Meanwhile, the price of 10 grams of yellow metal in Pakistan decreased to Rs97,600 after shedding Rs1,400. Gold in the local market was available at Rs99,000 per 10 grams on Thursday.

According to experts, gold price is reversing from monthly highs just ahead of the $1,800 mark, as the US dollar rebounds in tandem with Treasury yields amid the upbeat market mood. Robust US corporate earnings douse fears over growing inflation risks.—TLTP