Islamabad
Gold price edged lower in the international market on Monday amid a rebound in the US Treasury yields.
At 1245 hours GMT, gold in the international market was available at $1758.60 per ounce after shedding $3.40. Meanwhile, the price of 10 grams of yellow metal in Pakistan decreased to Rs96,500 on Saturday after shedding Rs100. The closing prices of the yellow metal in the country remained Rs96,600 on Saturday last.
According to experts, gold prices kicked off the week on the wrong footing, as rising inflation expectations call for a sooner than expected monetary policy tightening by the US Fed, lifting the rates on the markets. Meanwhile, the broader market sentiment remains tepid amid China Evergrande uncertainty and fresh US-Sino trade jitters limiting the downside in gold price.—TLTP
