KARACHI — Gold prices in Pakistan saw a sharp rise on Monday as investors turned to safe-haven assets amid escalating geopolitical tensions.
According to the All Pakistan Gems and Jewellers Association, the price of one tola of gold increased by Rs13,300, reaching Rs563,862. Meanwhile, the price for 10 grams of gold rose by Rs11,402 to settle at Rs483,420.
In the global market, gold prices jumped by $133 per ounce, reaching $5,411. Analysts said the surge reflects investor concerns over ongoing conflict between Iran, Israel, and the US following the death of Iran’s Supreme Leader, Ayatollah Ali Khamenei.
The rise in gold prices coincided with a major decline at the Pakistan Stock Exchange (PSX). The KSE-100 index plunged 16,089.17 points, closing at 151,972.99, a drop of 9.57 percent compared to the previous close of 168,062.16 points. Investors cited uncertainty from the Middle East conflict as a key reason for the sell-off.
Global oil markets also reacted to the crisis. Brent crude prices surged as attacks on vessels in the Strait of Hormuz intensified fears of supply disruptions. Nearly 20 percent of the world’s oil passes through this narrow waterway, making it critical for global trade. Analysts warned that any restrictions could further drive up fuel and energy costs.
Experts note that in times of political and economic uncertainty, gold prices often rise as investors seek safer assets. The current spike reflects both domestic and international concerns, affecting markets worldwide.
In other news read more about PSX Plunges Over 15,000 Points Amid Rising Geopolitical Tensions
With ongoing tensions in the Middle East and volatility in global oil and stock markets, analysts expect gold prices to remain high in the short term. Investors are advised to monitor market developments closely while considering safe investment strategies.
