The yellow metal price in global market eased on back of correction in international inventories besides dull interest of international and domestic buyers. It closed at $1,264 an ounce with $23 per ounce down in value as compared to previous trading session while domestic bullion price also witnessed correction. Gold in tola term down by Rs 949 per tola to stay at Rs 48,403 per tola while in grammage value, gold dipped by Rs 815 per ten grams to close at Rs 41,541 per ten grams respectively on Tuesday, dealers said.
The gold price remained in correction phase, as leading traders in international and domestic markets were eyeing on future output however potential buyers in India and Pakistan remained busy in hedging.
This post was published at TruthinGold on September 3, 2014.
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