Rise In Gold Prices May Affect Wedding Season

The current record rise in gold prices would badly affect the wedding season amid COVID-19 pandemic restriction

ISLAMABAD, (UrduPoint / Pakistan Point News - 15th Jul, 2020 ) :The current record rise in gold prices would badly affect the wedding season amid COVID-19 pandemic restriction. Most of the people have delayed wedding ceremonies due to COVID-19 pandemic and closure of wedding halls, said Saima Khan a local resident at G-11, adding that now abrupt increase in gold prices would be an additional problem for people.

She said the tradition of gifting the gold ornaments to daughters on their wedding is centuries' old.

According to Sarafa Market, the per tola gold rate in Pakistan as on Wednesday was Rs.

113225, while the Gold rate for 10 grams was Rs 97175.

The gold rates may be different in every city of the country.

An office-bearer of Sarafa baazar said that Karachi is the main and leading hub of gold market and for gold rates thus every city follows Karachi Sarafa Bazar Association for gold price rates.

He said the gold prices risen due to an increase occurred in the international bullion price.

"COVID-19 cases are again on the rise in the world due to which investors are investing in gold" he said.