KARACHI: On Saturday, gold continued to decline and lost ground into the third session. The metal’s appeal as a hedge was reduced as it closed just above the threshold of Rs150,000 per tola, in line with price movement on the global market and expectations that an economic recovery could reduce inflationary pressure.
The price of the precious metal decreased by Rs3,750 per tola and Rs3,216 per 10 grammes, according to data made public by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), to settle at Rs150,100 per tola and Rs128,686 per 10 grammes, respectively.Over the past three sessions, the price of the valuable metal has decreased by about Rs5,000 per tola. In the meantime, during the week ending September 24, it lost Rs6,100 per tola.
