ISLAMABAD: Snapping a four-week losing streak with 0.87pc surge on a week-on-week basis in the international market, gold’s outlook seems bullish. The price of 10 grams gold in Pakistan increased from Rs102,000 to Rs103,000 during the last week, up 0.98 percent. The relatively higher appreciation in local gold price was mainly due to the rupee’s depreciation during the week. The US dollar appreciated from Rs177.71 to Rs178.04 during the aforementioned period. According to experts, the gold price is riding higher on the hawkish central banks’ decisions and year-end flows. The US dollar and Treasury yields licked their wounds, lending support to the yellow metal. TLTP
