ANL 19.29 Decreased By ▼ -1.56 (-7.48%)
ASC 13.45 Decreased By ▼ -0.09 (-0.66%)
ASL 22.20 Decreased By ▼ -0.80 (-3.48%)
BOP 8.18 Decreased By ▼ -0.02 (-0.24%)
BYCO 7.55 Decreased By ▼ -0.26 (-3.33%)
FCCL 17.45 Decreased By ▼ -0.35 (-1.97%)
FFBL 22.10 Decreased By ▼ -0.65 (-2.86%)
FFL 15.20 Decreased By ▼ -0.30 (-1.94%)
FNEL 7.40 Increased By ▲ 0.05 (0.68%)
GGGL 17.00 Decreased By ▼ -0.83 (-4.66%)
GGL 39.30 Decreased By ▼ -0.71 (-1.77%)
HUMNL 5.76 Decreased By ▼ -0.26 (-4.32%)
JSCL 18.00 Decreased By ▼ -0.30 (-1.64%)
KAPCO 35.95 Decreased By ▼ -0.40 (-1.1%)
KEL 3.29 Decreased By ▼ -0.11 (-3.24%)
MDTL 2.50 Decreased By ▼ -0.15 (-5.66%)
MLCF 34.24 Decreased By ▼ -0.86 (-2.45%)
NETSOL 119.85 Decreased By ▼ -9.55 (-7.38%)
PACE 4.94 Increased By ▲ 0.19 (4%)
PAEL 26.53 Decreased By ▼ -0.47 (-1.74%)
PIBTL 8.71 Decreased By ▼ -0.14 (-1.58%)
POWER 7.25 Decreased By ▼ -0.20 (-2.68%)
PRL 16.97 Decreased By ▼ -0.18 (-1.05%)
PTC 9.65 Decreased By ▼ -0.36 (-3.6%)
SILK 1.50 No Change ▼ 0.00 (0%)
SNGP 45.10 Increased By ▲ 0.10 (0.22%)
TELE 17.48 Decreased By ▼ -1.41 (-7.46%)
TRG 161.00 Decreased By ▼ -1.70 (-1.04%)
UNITY 31.80 Decreased By ▼ -1.15 (-3.49%)
WTL 2.85 Decreased By ▼ -0.09 (-3.06%)
BR100 4,718 Decreased By ▼ -14.65 (-0.31%)
BR30 22,320 Decreased By ▼ -482.1 (-2.11%)
KSE100 45,074 Decreased By ▼ -223.36 (-0.49%)
KSE30 17,742 Decreased By ▼ -68.18 (-0.38%)

Coronavirus
HIGH Source: covid.gov.pk
Pakistan Deaths
27,566
4224hr
Pakistan Cases
1,238,668
1,78024hr
3.98% positivity
Sindh
455,065
Punjab
428,394
Balochistan
32,849
Islamabad
105,021
KPK
173,023
Markets

Gold prices flat as lower US bond yields offset firmer dollar

  • Silver eased 0.1% to $25.18 per ounce, palladium was steady at $2,597.23, and platinum rose 0.3% to $1,077.98
20 Jul 2021

Gold prices were flat on Tuesday, as a slide in US Treasury yields offset a firmer dollar amid investor concerns over a relentless surge of the Delta coronavirus variant that could threaten the outlook for global economic recovery.

FUNDAMENTALS

  • Spot gold was steady at $1,813.15 per ounce, as of 0057 GMT, after falling to a one-week low of $1,794.06 in the previous session.

  • US gold futures edged up 0.3% at $1,813.80.

Spot gold may fall towards $1,789

  • Benchmark 10-year Treasury yields were pinned near five-month lows. Lower bond yields reduce the opportunity cost of holding non-interest bearing gold.

  • But, making gold more expensive for holders of other currencies, the dollar held near a 3-1/2-month peak against its rivals.

  • Stocks on Wall Street fell as much as 2% on Monday, with the Dow posting its worst day in nine months, as a rise in worldwide coronavirus cases and increasing US deaths drove investors out of risky assets.

    • Rising coronavirus cases across the United States and abroad fuelled fears of a pandemic resurgence as the highly contagious Delta variant appeared to be taking hold.

    • Gold is often used as a safe store of value during times of political and financial uncertainty.

  • Japan's core consumer prices rose 0.2% in June from a year earlier to mark the fastest annual pace in over a year, data showed on Tuesday, a sign the impact of global commodity inflation was gradually broadening.

  • US Senate Democratic leader Chuck Schumer said on Monday he would set a procedural vote on a bipartisan $1.2 trillion infrastructure bill for Wednesday, increasing pressure on negotiators as they struggled with ways to pay for the cost of the measure.

  • Silver eased 0.1% to $25.18 per ounce, palladium was steady at $2,597.23, and platinum rose 0.3% to $1,077.98.

Comments

Comments are closed.