KARACHI: The gold price in global and domestic markets closed on depressive note while buyers with strong standing in international and domestic markets remained busy contemplating price dynamics.
The gold price would be remained under leading hands by October 2015, experts opined. Gold closed at $1,179 an ounce with $13 downward variation in value as compared to previous trading session and domestic bullion price also witnessed correction. Gold in tola term down by Rs 530 per tola and stayed at Rs 44,918 per tola while in grammage value, gold remained down by Rs 455 per ten grams to close at Rs 38,551 per ten grams, dealers said.
The gold price remained on changing pattern while buying in India, Pakistan and other major gold buying countries remained steady, however leading traders in international and domestic markets were keeping eye on future output while potential buyers in India and Pakistan remained busy in hedging.
The gold hedgers made some cautious deals. The general buyers remained on sidelines anticipating further 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.