ISLAMABAD: Gold price remained on the defensive on Tuesday amid firm US Treasury bond yields and cautious optimism about an end to deadlock in the Russia-Ukraine peace talks. As of 1230 hours GMT, gold in the international market was available at $1,927.50 per ounce, shedding $8.50. Out of a $8.50 per ounce decrease, +$0.30 was due to the dollar’s weakness and -$8.80 was due to predominant sellers, according to Kitco Gold Index. The price of 10 grams of 24-carat yellow metal in Pakistan, meanwhile, increased to Rs112,400 after gaining Rs500. Gold in the local market was available at Rs111,900 on Monday last. The Pakistani rupee depreciated 0.26 percent against the US dollar during the day, which trimmed the overall decrease in the local gold prices. Moreover, the overnight change in the gold price when the local market was closed also impacted the local prices. TLTP
