Bengaluru : Gold prices recovered slightly early on Wednesday, after sliding to the lowest level this year in the previous session on surging U.S. bond yields and a stronger dollar.
Spot gold rose 0.2 percent to $1,292.73 per ounce at 0048 GMT, after shedding 1.7 percent and marking the lowest this year at $1,288.31 in the previous session.
This was also the lowest price level for the yellow metal since Dec. 28. U.S. gold futures for June delivery were up 0.1 percent at $1,292.10 per ounce. The dollar hovered near a five-month high against a group of major currencies on Wednesday, as a surge in the benchmark 10-year Treasury yield above 3 percent reignited a rally that had lost steam last week. The yield on the benchmark U.S. 10-year Treasury note hit its highest in about seven years on Tuesday on the heels of a report that indicated a pick-up in consumer spending, lifting the dollar to its strongest level this year.
The headquarters of the Sui Southern Gas Company . — APP FileKARACHI: Sui Southern Gas Company has launched a fresh...
The logo of the ExpoMed Eurasia. — CA MI websiteKARACHI: Pakistan is participating in ExpoMed Eurasia, a leading...
Gold bars are seen in this undated file photo. — AFP/FileKARACHI: Gold prices increased by Rs500 per tola on...
FFBL Head Office building can be seen in Islamabad. — FFBL WebsiteKARACHI: Fauji Fertilizer Bin Qasim Limited has...
Representational file of an BMW car. — AFP FileLAHORE: Small improvements in economic credentials of the country are...
A fuel station worker filling petrol in vehicle at a fuel station in Karachi on Tuesday, April 16, 2024KARACHI: After...