US-Iran Standoff Sparks Gold and Silver Surge Amid Global Market Volatility
The ongoing US-Iran negotiations have hit a roadblock after President Trump's demand for historical conflict compensation from Tehran. This sudden development has led to massive volatility in precious metals, causing investors to flock to gold and silver as safe-haven assets.
As a result, the global oil prices have spiked, fueling fresh inflation fears. The Strait of Hormuz remains closed, further exacerbating the situation. Local markets in Pakistan are adjusting to these macroeconomic shocks by pushing up gold and silver prices.
The international rates for spot gold stand at $4,377.11 per troy ounce, while spot silver is trading at $64.715 per troy ounce. In Pakistan, the current gold price is Rs. 4,55,746 per tola, with silver priced at Rs. 6,738.14 per tola.