Yellow metal price closes flat amid low interest of buyers

Karachi-Pakistan (Oct 14)  Yellow metal prices in international and domestic markets remained unchanged amid insignificant demand from hedgers and gold futures speculation.

However, leading hedgers used futures to cap prices. Deals on short and long term basis remained second best while investors kept themselves in short term dealings. However, gold futures speculation would likely keep buyers’ interest alive in ready market transaction, it was said.

The future market outlook baseline mechanism would keep general prices in firm zone.

In international market, price closed unchanged at $1,293 an ounce while in domestic bullion market price closed at Rs 51,067 per tola, after a gain of Rs 69 per tola. In ten grams terms, price closed at Rs 43,828, after an increase of Rs 27 per ten grams.

DailyTimes

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