US-Iran Negotiations Stalemate Sends Gold and Silver Prices Soaring

The recent stalemate in US-Iran negotiations has sent shockwaves through the precious metals market. President Trump's demand for historical conflict compensation from Tehran has effectively frozen ongoing peace talks, leading to a surge in global oil prices and fueling inflation fears.

As a result, investors are flocking to gold and silver as safe-haven assets, pushing local prices in Pakistan sharply higher. Local Sarafa markets have been adjusting prices constantly to absorb these macroeconomic hits.

The international market is also reflecting the turmoil, with spot gold trading at $4,139.46 per troy ounce and spot silver at $60.373 per troy ounce. In Pakistan, gold is priced at Rs. 4,41,000 per tola, while silver is at Rs. 6,794 per kilogram.

The sudden deadlock in negotiations has crushed any hope of reopening the Strait of Hormuz, which had been seen as a key factor in stabilizing global oil prices.