Global Tensions Send Gold, Silver Prices Soaring in Pakistan
A recent development in US-Iran negotiations has caused a surge in gold and silver prices globally. The stalled peace talks have led to increased tensions between the two countries, resulting in a rise in global oil prices.
This, in turn, has fueled inflation fears among investors, prompting them to seek safe-haven assets such as gold and silver.
In Pakistan, local Sarafa markets are adjusting their prices in response to these international shocks. The current rates for 24K gold and silver in Pakistan are Rs. 4,77,393 per tola, Rs. 4,09,294.9 per 10 grams, and Rs. 40,929.49 per gram for gold, while the corresponding figures for silver are Rs. 7,184.53 per tola, Rs. 6,159.68 per 10 grams, and Rs. 615.968 per gram.
The international prices for spot gold and silver are $4,586.38 per troy ounce and $68.983 per troy ounce, respectively.