Gold prices began to rise day by day. The price of gold per tola increased by another Rs 600 to make it Rs 98,100.
In the international bullion market, the gold price per ounce increased by 3 dollars to make it 1733 dollars. Due to the increase in the price of gold in the global market, the price of gold in the local market also went up for per tola and 20 grams by Rs.600 and Rs.514 respectively.
As a result of the price hike, the price of gold per tola in Lahore, Islamabad, Hyderabad, Sukkur, Karachi, Multan, Faisalabad, Quetta, and Peshawar barter markets increased by Rs 98,100. And 100-gram gold came to the level of Rs 88,105.
Recently, gold had gone up by Rs 500 more in the barter markets and markets of Lahore. Citizens and the jeweler’s community had expressed concern over the further rise in gold prices. After gold became more expensive by Rs. 500 in barter markets and markets, the price of pure 24 carat gold per tola had reached Rs. 96,000 to 96,000. Similarly, 22 carat gold per tola has become Rs 88,000.
The city’s jewelers community and consumers have expressed concern over the further rise in gold prices. Jewelers say the sharp rise in gold prices has hit the gold trade hard. Women consumers are also worried about it. Women consumers say that gold has become out of reach of the middle class due to the rapidly rising prices of gold.
It should be noted that due to the Coronavirus Lockdown, there is a ban on wedding ceremonies that will not be lifted. There is a fear that gold will become more expensive.
Extracted from City42 News