Gold Prices Surge in Pakistan as Rising Middle East Tensions Boost Global Bullion Market
In the international bullion market, the price of gold increased by $36 per ounce, reaching $4,113 per ounce, triggering a sharp rise in domestic gold prices.
According to local bullion market rates, the price of 24-karat gold per tola jumped by Rs3,600 to Rs433,836, while the price of 10 grams of gold increased by Rs3,086 to Rs371,944.
In contrast, silver prices remained stable in both international and local markets. The international price of silver held steady at $59.42 per ounce.
Likewise, in Pakistan, the price of silver per tola remained unchanged at Rs6,421, while the price of 10 grams of silver stayed stable at Rs5,504.
Market analysts attribute the renewed rally in gold prices to increased investor demand for safe-haven assets amid escalating geopolitical uncertainty in the Middle East.