Gold prices witnessed a significant spike on Thursday across both global and local markets, driven by rising geopolitical tensions after Israel reiterated its threat of military action against Iran.
Amid the growing uncertainty, investors flocked to safe-haven assets like gold, causing turbulence in already sensitive financial markets.
Read more: Pakistan Gold Prices Hold Steady Amid Eid Holidays
In Pakistan’s bullion market, 24-carat gold surged by Rs4,000 per tola, reaching a record-breaking Rs356,900. The price for 10 grams rose by Rs3,430, now priced at Rs305,984.
Traders attribute this sharp rise to a $30 jump in international gold rates, taking the global price to $3,375 per ounce.
