Gold prices soar, pinching the pockets of common man

KARACHI: In a recent announcement by the Jewellers Association in Pakistan, gold rates for January 16 have surged, putting this precious metal further out of reach for the common man.

The new rates reveal a substantial increase of Rs450 per tola or 11 grams.

Following this adjustment, one tola of gold in the country is now priced at Rs217,900. The All Sindh Sarafa Jewellers Association reported a Rs386 hike for 10 grams of gold, bringing the new price to Rs186,814.

Read more: Pakistani Rupee appreciates to Rs 280 to the USD in interbank

Simultaneously, in the international market, the price of gold has ascended by $7, reaching $2,055 per ounce.

The escalating trend in gold prices both locally and globally is a matter of concern for consumers, particularly impacting affordability for the common man.