Gold prices in Pakistan today continued their upward momentum, rising by Rs7,900 on Thursday to reach Rs523,962 per tola.
The price of 10 grammes of gold also increased by Rs6,773, taking the rate to Rs449,212 in the local market.
The domestic surge follows gains in international markets, where gold extended its rally after climbing more than 2% in the previous session. Spot gold rose 0.7% to $5,012.83 per ounce, while US gold futures for April delivery were up 0.4% at $5,031.20.
Market analysts attributed the rise to geopolitical tensions between the United States and Iran, which prompted investors to seek safe-haven assets. According to analysts, uncertainty over potential military developments and ongoing diplomatic talks has increased volatility in global markets.
Read: Gold Prices Fall Ahead of FOMC Minutes as Dollar Strengthens
Reports indicated that US national security advisers met to discuss the situation with Iran, while diplomatic efforts continued in Geneva. This backdrop has supported gold, traditionally viewed as a hedge against geopolitical and economic uncertainty.
Meanwhile, silver also recorded gains. Spot silver rose 2.7% to $79.24 per ounce after climbing more than 5% in the previous session.
Ole Hansen, head of commodity strategy at Saxo Bank, noted that silver remains supported by tight supply and low COMEX stock levels. However, he cautioned that prices need to move higher to signal stronger recovery momentum.
Local gold prices in Pakistan typically mirror international trends while also factoring in currency movements and domestic demand. With global uncertainties persisting, bullion markets are likely to remain sensitive to geopolitical headlines and central bank signals.
