ISLAMABAD: Gold prices in the international market fell on Wednesday, pulled lower by firm US treasury yields and uptick in dollar index. At 1220 hours GMT, gold in the international market was trading at $1,767.10 an ounce after shedding $9.70 an ounce in its value as compared to its closing value on Tuesday last. Likewise, the price of yellow metal in the country went down and the price of 10 grams yellow metal was recorded at Rs87,000 after losing Rs1,300. The price of 10 grams gold was recorded at Rs88,300 on Tuesday last. Investors are looking out for policy cues from the Federal Reserves’ two-day meeting,ending later in the day (Wednesday). Benchmark US 10-year Treasury yields rose above 1.6 percent, increasing the opportunity cost of holding non-yielding bullion. The dollar index rose 0.1 percent against its rivals, making gold less appealing for other currency holders. TLTP
