Gold retreats in Pakistan as hopes rekindle on IMF programme’s revival

Gold retreats in Pakistan as hopes rekindle on IMF programme’s revival

Posted on February 22, 2023

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An undated image of gold jewellery displayed at a store. — Reuters/File
An undated image of gold jewellery displayed at a store. — Reuters/File

Gold prices slipped nearly 1% on Wednesday, weighed down by a jump in the rupee and hopes of revival of the International Monetary Fund (IMF) programme that could influence the economic scenario.

According to the data released by the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) showed that the price of gold (24 carats) plunged by Rs1,400 per tola and Rs1,200 per 10 grams to settle at Rs195,600 and Rs167,695, respectively.

More to follow…

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