Gold eases from key Rs205,000 level as investors assess economic risks

Gold edged lower on Monday, extending its losses to a second day, as the euphoria over the International Monetary Fund (IMF) deal fizzled and investors shifted their focus to Finance Minister Ishaq Dar’s negotiations with friendly countries for loans to avert a looming disaster in Pakistan. Data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) showed that the price of gold (24 carats) declined by Rs1,100 per tola and Rs944 per 10 grams to settle at Rs204,600 and Rs175,411.