Yellow metal price remains stable on Gold Futures, hedging

Karachi-Pakistan( Dec 30)  Yellow metal prices in international and domestic markets closed steady on Gold Futures speculations and hedging interest while investors made deals on short term basis. Buyer made deals on ready market prices also while hedgers fortified their long positions while investors with liquidity consolidated their inventories. Gold Futures speculation and output outlook report would remain a factor in days to come for keeping prices on firm footings.

Contract buyers made deals on daily counter price basis while gold output report would keep metal price fluctuating in next coming trading sessions.

The secondary buyers made deals on daily counter prices while general buyers bought metal according to their needs.

Bottom-line prices will likely to remain under fluctuation in next coming trading sessions as Gold Futures speculation would likely keep prices within lower bracket in coming market contacts.

In international market price closed at $1,299 an ounce after upward change of $7 an ounce and in domestic bullion market metal closed at Rs 53,887 per tola after gaining Rs 285 per tola and in ten grams term, price closed at Rs 46,248 after an increase of Rs 244 per ten grams.

DailyTimes