ISLAMABAD: Gold prices in Pakistan surged to an all-time high on Wednesday as escalating tensions between the United States and Iran continued to fuel global uncertainty and boost demand for safe-haven assets. The price of 24-carat gold climbed to a record Rs486,162 per tola, reflecting strong upward momentum in the domestic market.
The All Pakistan Sarafa Gems and Jewellers Association (APSGJA) confirmed that precious metal prices reached new historic levels across the country. According to the association, the price of 10 grams of gold rose by Rs3,687 to settle at Rs416,805, marking a sharp daily increase. Traders attributed the surge to a combination of global market volatility, investor anxiety, and currency pressures.
Silver prices also followed the upward trend. The price of silver increased by Rs500 per tola to reach a record Rs9,575, further highlighting the strength of precious metals in the current environment. Market analysts noted that investors increasingly view both gold and silver as protective assets during periods of geopolitical risk.
International market rally pushes prices higher worldwide
Internationally, gold prices continued their rally, gaining $43 to reach a record $4,638 per ounce. Analysts said fears surrounding the Middle East situation, alongside expectations of shifts in global monetary policy, have intensified demand for gold across major markets.
As a result, local bullion dealers expect volatility to persist in the coming days. Many believe prices could remain elevated if geopolitical tensions continue and global investors maintain their risk-averse stance.
Meanwhile, consumers and jewellers in Pakistan are closely monitoring the market, as higher prices may affect buying patterns ahead of the upcoming wedding and festive seasons.
