KARACHI, Oct 7(ABC): Gold pared some losses on Thursday after the Pakistani rupee continued to register significant gains against the US dollar, some investors unwound safe-haven positions as the price of the precious metal fell below the key level of Rs145,000.
Data released by All Pakistan Sarafa Gems and Jewellers Association (APSGJA) showed that the gold price surged by Rs3,400 per tola and Rs2,915 per 10 grams to settle at Rs144,900 per tola and Rs124,228 per 10 grams, respectively.
Investors are still nervous ahead of the monetary policy announcement on how aggressive the State Bank of Pakistan (SBP) will be.
The rupee’s strength was hurting gold even though the precious metal was regaining shine in the international market.
