KARACHI: The yellow metal price in international and domestic markets remained strong on Futures deals by leading traders, and hedging and gold Futures put gold market under speculations.
The price remained favourable for buyers in international and domestic markets during the trading session and gold closed at $1,356 an ounce with $17 upward variation while domestic bullion price also witnessed same trend.
Gold in tola term closed at Rs 53,125 per tola with Rs 681 increase while in grammage value, gold closed at Rs 45,594 per ten grams, increase of Rs 578 a gram, traders said.
The gold futures remained under the hands of leading traders in international and domestic markets for the time being and they also made forward deals. The future market would get some strength in coming days on back of improved hedging by leading speculators.
The potential buyers remained busy in hedging as they were maintaining the market mechanism, traders said.
The gold hedgers made some cautious deals. The general buyers remained on sidelines anticipating 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.
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