US-Iran Stalemate Sends Gold and Silver Prices Soaring

The ongoing stalemate in US-Iran negotiations has sent shockwaves through the global market, causing a surge in demand for safe-haven assets like gold and silver.

The sudden deadlock in peace talks was sparked by President Trump's demand for historical conflict compensation from Tehran, effectively freezing any progress towards reopening the Strait of Hormuz.

As a result, global oil prices have spiked, fueling fresh inflation fears among investors. To hedge against this uncertainty, anxious investors are aggressively buying gold and silver, causing their prices to rise sharply in local markets, including Pakistan's Sarafa markets.

In the international market, spot gold is currently trading at $4,632.18 per troy ounce, while spot silver is at $67.886 per troy ounce. Locally, the price of 24K gold has reached Rs. 4,81,741 per tola, with prices adjusting constantly to absorb the macroeconomic hits.