KARACHI: Gold prices dropped over 3% to a near two-and-a-half-month low on Tuesday as investors scrambled for cash to cover losses in other asset classes mainly driven by an appreciation of the rupee against the US dollar after the International Monetary Fund (IMF) approved the revival of Pakistan’s bailout programme.
In data released by the All Sindh Sarafa Association, the gold price plummeted by Rs5,100 per tola and Rs4,372 per 10 grams to settle at Rs140,500 per tola and Rs120,456 per 10 grams on Tuesday.
