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Gold Price Closes Flat


johnmacron

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The yellow metal price in international and domestic markets closed almost flat while moderate buying and forward deals and hedging put market under steady sentiments.


Price remained favourable for buyers in international and domestic markets during trading session and gold closed at $1,184 an ounce with no variation while domestic bullion price also witnessed correction.


Gold in tola term down by Rs 58 per tola to stay at Rs 44,594 per tola while in grammage value, gold down Rs 51 per ten grams to close at Rs 38,272 per ten grams respectively on Thursday, dealers said.


The general gold price remained firm as potential traders in international and domestic markets made deals and there were some signs of steady market in coming days ahead of buying for wedding and other festivities in India and Pakistan. 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.

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