The international gold price hit a ten-year high. Jewellery shops and pawn shops saw an increase of 30% of patrons.  Many have cashed out on gold or redeemed their pawned items and re-pawned them for more cash.

The international spot price of gold hit the highest point in history on Tuesday, achieving a price of US$1,980 per ounce. Singapore Pawnbrokers Association indicated that the number of people who sold/pawned their gold jewellery has increased by about 20 to 30%.

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