Gold price in international and local markets remained under correction, as there was no demand due to less interest of major buyers and gold hedgers, traders said. The stakeholders remained active in manipulating gold futures during trading session along with keeping an eye on the future output. Gold closed at $1,233 an ounce with $10 downward variation in value as compared to previous trading session and domestic bullion price witnessed same trend. Gold in tola term down by Rs 368 per tola and stayed at Rs 48,386 per tola while in grammage value, gold remained down by Rs 316 per ten grams to close at Rs 41,527 per ten grams, dealers said. It is said physical price would hover within a difference of Rs 600 to Rs 900 per 10 grams and the domestic bullion market was using more than 90 percent of the recycled gold stocks for daily use, dealers said. They said the increase in gold prices would come in the next couple of weeks when gold is expected to get expensive substantially by Rs 1,000 to Rs 1,200 per tola on better demand.
