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Tuesday, 11th January 2005 (7036 views)

Spriralling global gold prices are having a significant impact on jewellery sales in Pakistan, the Financial Times reports.<br/><br/>South Asia it is tradition for families to buy their offspring large quantities of jewellery when they get married, but soaring costs are forcing many families to rethink.<br/><br/>Pakistan's gold consumption is believed to be 50-60 tonnes a year. But whilst there has been strong evidence of a strengthening economy, this has failed to trickle down to the country's jewellery stores. <br/><br/>Meanwhile high prices around the world in the past few months have made it more difficult for Pakistanis to buy. <br/><br/>Saleem Awan, a jewellery store owner in Karachi, said: "People want to save wherever possible. They ask for light jewellery which is still visible but cheap, rather than heavy jewellery. <br/><br/>"Gold prices are definitely forcing a change of tradition in Pakistan, but the problem is that people don't want to part with tradition. <br/><br/>"They still want visible jewellery."<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=7540185"/>

 

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