Global Oil Price Surge Sparks Gold and Silver Rally

The sudden deadlock in US-Iran negotiations has sent shockwaves through global markets. President Trump's demand for historical conflict compensation from Tehran has effectively frozen ongoing peace talks, crushing any immediate hope of reopening the Strait of Hormuz.

This development has led to a surge in oil prices globally, fueling fresh inflation fears among investors. As a result, gold and silver have seen a massive increase in value as safe-haven assets. In Pakistan, local markets are adjusting to these macroeconomic hits by spiking gold and silver prices.

The current international rates for gold and silver stand at $4,493.22 per troy ounce and $67.254 per troy ounce respectively. Locally, the prices of 24K gold, 10 grams of gold, and 1 gram of gold are Rs. 4,64,950, Rs. 3,98,626.9, and Rs. 39,862.69 respectively. For silver, the prices are Rs. 6,964.03 for a tola, Rs. 5,970.63 for 10 grams, and Rs. 597.063 for 1 gram.