Yellow metal prices fail to gain value on dull buying

Karachi-Pakistan (Nov 5)  Yellow metal prices in international and domestic markets failed to recover value while ready market buying prices on gold futures speculation and dull hedging sentiments kept metal general prices depressed.

Contract buyers and hedgers made cautious deals on short term basis. However, secondary buyers kept their deals on daily counter prices and investors kept manipulating over stocks on gold futures outlook. Bottom line prices remained uneven. Gold futures speculation would likely keep prices fluctuating in coming market transactions. In international market, price closed at $1,270 an ounce, with a decline of $5. In domestic bullion, market price closed at Rs 50,115 per tola, after a loss of Rs 137. In ten grams terms, price closed at Rs 43,011, after downward correction of Rs 124.

DailyTimes