KARACHI: The yellow metal price in global and domestic markets closed depressed on Gold Futures correction and insignificant demand while trading activity remained on day’s physical price-focused because leading buyers made only short-term deals on manipulating gold price during trading session. The gold price would be remained under leading hands by December 2017, metal experts opined. Gold closed at $1,271 an ounce with $2 downward variation in value as compared to previous trading session and domestic bullion price witnessed same trend. Gold in tola term down by Rs 81 a tola to close at Rs 50,201 per tola while in grammage value, gold remained down by Rs 70 per ten grams to Rs 43,085 per ten grams, dealers said. The gold price remained in the hands of manipulators in India, Pakistan and other major gold buying countries, as they remained busy influencing current prices and futures on speculations. The potential buyers in India and Pakistan remained busy in hedging. The gold hedgers made some cautious deals. The general buyers remained on sidelines anticipating further easing in price in coming days on dollar-rupee parity. Buyers made deals according to their immediate needs. Local trading in gold remained dull on back of insignificant buying. Published in Daily Times, August 17th 2017.