Pakistan Gold Prices Soar Amid Geopolitical Uncertainty

Gold prices in Pakistan jumped by Rs10,000 per tola on Wednesday due to increasing geopolitical uncertainty and mixed signals over US-Iran negotiations. The surge in global demand for precious metals caused gold rates to spike internationally, triggering a sharp increase in local bullion rates.

In the international market, gold prices rose by $100 per ounce to $4,155, leading to a significant jump in Pakistan's domestic market. According to the All-Pakistan Gems and Jewellers Sarafa Association, one tola of gold now costs Rs437,936, while 10 grams is valued at Rs375,459.

Silver prices also experienced gains in both international and local markets. In the global market, silver rose by $2.73 per ounce to $61.45, causing a corresponding increase in Pakistan's domestic market. The price of one tola of silver now stands at Rs6,624, while 10 grams costs Rs5,679.

The recent Middle East conflict has caused volatile bullion rates. On Monday, gold prices per tola had dropped by Rs1,700 compared to Tuesday's rate, followed by a gain over the next two days.