KARACHI: The yellow metal price in international and domestic markets got strength on demand while hedging and gold Futures put market under comfort zone.
Price remained favourable for buyers in international and domestic markets during trading session and gold closed at $1,364 an ounce with $16 upward variation while domestic bullion price also witnessed same trend.
Gold in tola term up by Rs 590 per tola to stay at Rs 53,538 per tola while in grammage value, gold up by Rs 507 per ten grams to close at Rs 45,949 per ten grams respectively, dealers said.
The gold futures remained firm as leading traders in international and domestic markets made forward deals and 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.
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.