KARACHI: The yellow metal price in international and domestic markets remained depressed on dull trading while buyers with liquidity consolidated their long positions to make
some gains on easing
prices, traders said.
Gold closed at $1,094 an ounce with $3 downward change per ounce comparing to previous day price while domestic bullion price witnessed correctional phase. Gold in tola term down by Rs 112 per tola and stayed at Rs 41,738 per tola while in grammage value, gold down by Rs 97 per ten grams to close at Rs 35,821 per ten grams respectively on Wednesday, dealers said.
The gold price remained under hands of traders with strong liquidity as they along with gold hedgers remained busy in manipulating trade and buyers with less liquidity remained cautious for making any sizeable deal in anticipation of further downward adjustment in price. The potential buyers at home remained confident dollar-rupee parity and oil prices continuous fall would keep gold prices within buyers’ reach.
Buyers made deals according to their immediate need while general buyers remained on sideline.
Local trading in gold remained dull on back of insignificant buying.
