Gold prices in Pakistan surge by Rs13,300 per tola

Gold prices in Pakistan surge by Rs13,300 per tola amid Middle East tensions

Gold prices recorded a massive surge in Pakistan on Monday, climbing by Rs13,300 per tola as escalating geopolitical tensions in the Middle East drove investors toward safe-haven assets .

According to data released by the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA), the price of 24-karat gold per tola settled at Rs563,862, marking a significant increase from the previous session . Similarly, 24-karat gold per 10-gram saw a jump of Rs11,402, reaching Rs483,420 . The rate for 22-karat gold also moved higher, quoted at Rs443,151 per 10-gram .

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Silver prices followed the upward trend, with 24-karat silver per tola increasing by Rs188 to Rs10,050, while 10-gram silver rose by Rs161 to Rs8,616 .

The domestic rally mirrored sharp gains in international markets, where spot gold jumped by $133 to reach $5,411 per ounce . Market analysts attributed the surge to Iran’s retaliatory missile attacks on Israeli facilities following the assassination of Iranian Supreme Leader Ayatollah Ali Khamenei in a US-Israel strike .

“The escalating conflict has triggered a rush toward bullion as investors seek protection from market volatility,” noted analysts, adding that gold’s safe-haven appeal strengthens during periods of geopolitical uncertainty .

Meanwhile, the Pakistan Stock Exchange experienced a massive downturn, with the KSE-100 index plunging by over 16,000 points as investor sentiment remained fragile amid the regional crisis .

News Source Link: Mettis Global News