Gold Prices Surge Amid Global Uncertainty

Gold prices registered a notable increase in both domestic and international markets, reflecting heightened investor demand for safe-haven assets amid ongoing geopolitical uncertainty.

In the local bullion market, the price of gold per tola rose by Rs2,800 to reach Rs478,762, while the price of 10 grams increased by Rs2,401 to Rs410,461. These rates are typically benchmarked by the All Pakistan Gems and Jewellers Sarafa Association.

Internationally, gold prices increased by $28 per ounce, reaching approximately $4,560. Spot gold recorded a 0.9% rise to $4,550.68 per ounce, while US gold futures for April delivery gained 0.5% to $4,580.70.

Silver prices also exhibited an upward trend. In the domestic market, the price per tola increased by Rs260 to Rs7,784, and 10 grams rose by Rs223 to Rs6,673. Globally, silver was recorded at approximately $73 per ounce.

Other precious metals also experienced gains. Spot silver rose by 2.7%, while platinum and palladium increased by 1% and 1.5%, respectively, despite having declined significantly earlier in the month.

The sustained upward movement in bullion prices follows a broader trend driven by increased demand for safe-haven assets amid geopolitical tensions, particularly involving United States and Iran. Market uncertainty and mixed signals regarding potential diplomatic developments have contributed to continued price volatility.

Earlier in the week, gold prices had already shown strong momentum, with significant increases recorded over consecutive sessions, indicating persistent bullish sentiment in both local and international markets.