Daily Times

Gold price in the international market remained flat on Monday after remaining high last week due to dip in US Treasury yields. At 1300 hours GMT, gold in the international market was trading at $1,882 an ounce after gaining $0.30 an ounce in its value as compared to its closing value on Friday last. Meanwhile, the price of 10 grams of yellow metal in Pakistan has reached Rs93,100 after gaining Rs100. The closing price of 10 grams gold was recorded at Rs93,000 on Friday last. The analysts said it seems inflation fears are finally translating into higher precious-metals prices, and exchange-traded fund investors are starting to swing into net buyers again. They said that US Treasury yields are falling and, on the other hand, there seem to be fears about the virus resurgence in Singapore, Taiwan, and the broader Asian-Pacific markets, driving up demand for safety.