Gold prices rise in Pakistan

Gold prices saw a steep rise on Thursday in both global and local markets due to renewed geopolitical tensions sparked by Israel’s fresh threat to strike Iran.

The escalating uncertainty on the international stage led investors to flock to traditional safe-haven assets, sending gold prices upward and contributing to further instability in already vulnerable financial markets.

In Pakistan’s bullion market, the price of 24-karat gold jumped by Rs4,000 per tola, setting a new record at Rs356,900. Likewise, the price for 10 grams increased by Rs3,430, reaching Rs305,984.

Traders attributed the surge to a $30 increase in global gold prices, which pushed the international per-ounce rate to $3,375.