Gold price recovers value on interest of buyers, hedgers

Karachi-Pakistan (Sept 30)  Yellow metal prices in international and domestic markets moved forward to retain value on interest of buyers while hedgers and investors made cautious deals on better output report. Technical correction on Gold Futures speculation on long term basis also helped prices to regain strength.

Hedging and speculations on future market outlook baseline price kept the principal players on cautious buying.

In international market price remained firm by $2 an ounce and stayed at $1,287 an ounce while in domestic bullion market price increased by Rs 90 per tola to stay at Rs 50,814 per tola and in ten grams term, price closed at Rs 43,611 after a gain of Rs 78 per ten grams.

Gold trading opened on dull note in first trading session and later in the day deals on Futures speculations put trading moderate.

DailyTimes