Gold price slips to Rs101,500 per 10gm


International gold prices edged lower on Thursday amid a broad rebound in the US dollar. Gold in the international market was available at $1,778.80 per ounce after shedding $5.60 at 1325 hours GMT.

The price of 10 grams of yellow metal in Pakistan, meanwhile, decreased to Rs101,500 after shedding Rs300. Gold in the local market was available at Rs101,800 per 10 grams on Wednesday last.

According to experts, gold is performing range-bound and is unable to hold onto the upside amid a broad rebound in the US dollar.

They said the mixed market sentiment is pushing the investors to find safety and certainty in the US dollar even as the US Treasury yields fade their recovery momentum

They said the traders refrain from placing any directional bet in the bright metal ahead of the all-important US inflation data due.—TLTP

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