Gold slips further out of people's reach as prices soar again
Business
Gold prices hit a new high, putting it further out of reach for the common man. In the international bullion market, the price of gold jumped by $59 to reach $4,134 per ounce.
KARACHI (Dunya News) – Gold prices continued their upward march on Tuesday, dealing another blow to consumers already struggling with inflation.
According to market reports, the international bullion rate climbed by $59, reaching a staggering $4,134 per ounce — a record high that sent ripples through local markets.
In Pakistan, the price of gold followed suit, soaring by Rs5,900 per tola to settle at Rs435,762. Similarly, the rate of 10 grams of gold rose by Rs5,065 to Rs373,595.
Gold price tumbles by Rs3,500 per tola amid global market dip
Jewelers say the latest jump has once again pushed gold beyond the average citizen’s reach, with demand slipping as buyers keep their distance amid sky-high rates.
Market experts believe the rally in global prices stems from growing uncertainty in international markets and rising demand for safe-haven assets. “People are turning to gold to safeguard their wealth as the global economy looks shaky,” a trader noted.
However, for most Pakistanis, the glitter of gold now feels more like a dream slipping through their fingers.
