KARACHI: Gold recovered some of its losses on Thursday as the Pakistani rupee continued to gain ground against the US dollar. However, as the price of the precious metal dropped below the crucial threshold of Rs145,000, some investors decided to unwind their safe-haven bets.
The price of gold increased by Rs 3,400 per tola and Rs 2,915 per 10 grammes, according to data made public by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), to settle at Rs 144,900 per tola and Rs 124,228 per 10 kilos, respectively.
In anticipation of the State Bank of Pakistan’s (SBP) announcement of its monetary policy, investors are still uneasy about how aggressive it will be.
Despite the fact that the precious metal was regaining its lustre on the global market, the strength of the rupee was harming gold.
