Pakistan posts 65% drop in gold imports

Pakistan's Daily Times reports nearly a 65% decline to about 12 tonnes in gold imports into the country for the 10-month period ending this May. The previous reporting period saw the importation of more than 33.2 tonnes into Pakistan.
The newspaper notes that the primary reason for the fall was high gold prices. Gold prices near $700 are likely to be met with resistance on the part of large investors, as they turn increasingly cautious on volatility as well as risk.