KARACHI: Yellow metal prices in international and domestic markets stood steady on buying interest and hedging. Gold Futures speculations kept the prices firm.
Buyer bought metal on ready market prices and hedgers consolidated their inventories while investors with liquidity consolidated their positions on short and long term basis. 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 $1,286 an ounce after upward change of $6 an ounce and in domestic bullion market metal closed at Rs 53,170 per tola after gaining Rs 201 per tola and in ten grams term, price closed at Rs 45,633 after an increase of Rs 172 per ten grams.
Published in Daily Times, December 28th 2017.