US-Iran Tensions Drive Gold and Silver Prices to New Heights

The stalled US-Iran negotiations have sparked massive volatility in precious metals, causing gold and silver prices to rise globally. The deadlock in peace talks has resulted in President Trump's demand for historical conflict compensation from Tehran, effectively freezing negotiations.

This development has crushed any immediate hope of reopening the Strait of Hormuz, leading to a surge in global oil prices and fresh inflation fears. In response, anxious investors are aggressively buying gold and silver as safe-haven assets.

In Pakistan, international shocks have pushed local gold and silver prices sharply higher, with local Sarafa markets adjusting prices to absorb these macroeconomic hits. The current rates for gold and silver in Pakistan are Rs. 4,57,139 per tola and Rs. 6,840.75 per kilogram respectively.

The international spot price of gold is $4,395.87 per troy ounce, while the spot price of silver is $65.806 per troy ounce. The rise in precious metal prices has been driven by the escalating tensions between the US and Iran, which have created uncertainty and risk aversion among investors.