Gold bounces back in Pakistan as price rises by over 1%

KARACHI: Gold resumed its climb on Tuesday after a knee-jerk retreat tied to the appreciation of the Pakistani rupee and anticipation of the monetary policy announcement, as the dollar slipped in the international market with investors latching on to a slight cooling of consumer prices.
Data released by All Pakistan Sarafa Gems and Jewellers Association (APSGJA) showed that the gold price surged by Rs2,150 per tola and Rs1,843 per 10 grams to settle at Rs148,450 per tola and Rs127,272 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.-PNP