Yellow metal prices remain under correction

Karachi-Pakistan (Dec 3)  Yellow metal prices in international and domestic markets remained under technical correction besides dull demand and interest of hedgers and investors. Ready market buying prices, however, remained attractive for buyers and investors to make deals on long and short term basis. Gold futures speculation and hedging interest also kept buyers in mid field. Contract buyers made deals on daily counter price basis while improving output outlook report would cast some pressure on general prices of metal. Secondary buyers bought metal on daily counter prices while investors remained on the sideline due to liquidity problems and on gold futures speculations.

Bottom line prices would likely remain under fluctuation in next coming trading sessions. Gold futures speculation would likely keep prices within the reach of buyers in coming market contacts.

In international market, price closed at $1,281 an ounce, after shedding $1. In domestic bullion market, metal closed at Rs 50,502 per tola, after shedding Rs 137 per tola. In
 ten gram terms, price closed at Rs 43,344, after a decrease of Rs 117.

DAILY-TIMES