KARACHI: Rising tensions between Iran and the United States have pushed gold and silver prices in Pakistan to historic highs.
According to the All Pakistan Sarafa Association, the price of 24-carat gold increased by Rs900 per tola, reaching a record level of Rs481,862.
Similarly, the price of 10 grams of gold rose by Rs771 to Rs413,118.
Silver prices also moved upward, with per tola rates climbing by Rs180 to Rs9,075.
Meanwhile, in the international market, gold became more expensive by $9 per ounce, hitting an all-time high of $4,595.
Gold prices in Pakistan are influenced by several local and international factors.
The most important factor is the global gold rate, as domestic prices closely follow movements in international markets.
Any rise or fall in gold prices worldwide directly impacts rates in Pakistan.
Other key factors include the US dollar exchange rate, inflation, interest rates, geopolitical tensions, and economic uncertainty.
A weaker Pakistani rupee, increased demand during wedding seasons, and investor interest in gold as a safe haven also contribute to price fluctuations.
Additionally, government taxes, import costs, and policies of bullion associations play a role in determining daily gold prices.
