Yellow metal prices remain depressed on hedging

KARACHI-Pakistan (Nov 12)  Yellow metal prices in international and domestic markets closed in the red on dull interest of leading buyers and hedgers while ready market buying prices remained within the reach of buyers on gold futures speculation.

Contract buyers and hedgers made cautious deals on output outlook report.

Secondary buyers bought the metal on daily counter prices and investors remained on the sidelines on gold futures speculation.

Bottom line prices would likely remain under correction in next trading sessions. Gold futures speculation would likely keep prices fluctuating in coming market transactions, experts stated.

In international market, price closed at $1,276 an ounce, with a dip of $5 an ounce. In domestic bullion, market price closed at Rs 50,209 per tola, after shedding Rs 307. In ten grams terms, price closed at Rs 43,092, after going down by Rs 264.

DailyTimes