Gold price inches up to Rs101,300 per 10gm


Gold price snapped a five-day winning streak on Tuesday, with the US dollar and US Treasury yields gaining traction.

Gold in the international market was available at $1,797.80 per ounce after shedding $10.60 at 1310 hours GMT.

Meanwhile, the price of 10 grams of yellow metal in Pakistan surged to Rs101,300 on Tuesday with an increase of Rs100. Gold in the local market was available at Rs101,200 per 10 grams on Monday last.

As the local currency has been depreciating against the US dollar consistently, gold rates have been going high despite remaining low in the international market.

According to experts, the prospects for an early policy tightening by major central banks contributed to driving flows away from the non-yielding yellow metal. —APP

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