Observer Report Islamabad
Gold price consolidated at higher levels on Monday, kicking off the week with over 0.3 percent gain amid low US Treasury yields.
At 1155 hours GMT, gold in the international market was available at $1,809.40 per ounce after gaining $5.70 as compared to its closing value on Friday last Meanwhile, the price of 10 grams of yellow metal in Pakistan jumped to Rs94,400 with a gain of Rs500. The closing prices of the yellow metal in the country remained Rs93,900 on Friday last.
According to experts, gold bulls are back in the game after having found solid support around the $1798 region.
The downbeat market mood remains the key underlying theme so far, boosting the haven flows into the US Treasuries and gold while weighing on the yields, they said They said that the benchmark 10-year US Treasury yields are down nearly 5 percent on the day.