A very huge rise in the gold market making people disappoint. The prices of gold are again been increased from 75,874 to 88,500 per tola. The increase in prices of gold is related to the weak economic situation prevailing in the economy. Gold a luxurious metal is not owned by many in the country having million living beyond the poverty line. It was owned by the middle class, upper-middle-class, and upper class but the current scenario is making very difficult for the middle class to buy gold. Which they usually buy to give it as a dowry. The current prices are resulting in a situation not suitable for none.
These increased prices of gold are expected to increase further in the coming years. These hike in prices of gold have costed the economy in a way that its sale is showing a downward trend. This trend is creating a panic among the public as they had to save more in order to avail these luxuries. One important thing is that the gold price increase is not confined to the Pakistani market but has also increased in the international market because of its high demand prevailing in the market.
After the increase in the gold price, the investor is looking to put their weight of investment in this sector as well. Which could be seen as a small piece of relief for the economy of Pakistan. As this gold is becoming more attractive for investors. As the gold prices are increasing but the interesting fact is that the people associated are not getting that profit as they used to make out of it because of the weak buying power of buyers along with that its price is also increased in the international market so overall its impact is alarming for the economy of Pakistan.