Karachi (HRNW)- Conflicting signals over possible talks between the United States and Iran, coupled with continued geopolitical uncertainty, have driven up the demand and prices of gold and silver in both global and local markets.
As the price of gold in the international bullion market jumped by $100 per ounce to $4,155, the price of gold per tola in Pakistan’s local bullion markets increased by Rs10,000, reaching Rs437,936 on Wednesday.
Similarly, the price of 10 grams of gold in the local market rose by Rs8,573 to Rs375,459.
Meanwhile, the international price of silver increased by $2.73 per ounce to $61.45, resulting in a rise in local silver prices. The price of silver per tola increased by Rs273 to Rs6,624, while the price of 10 grams of silver climbed by Rs235 to Rs5,679.
Market analysts attributed the sharp rise in precious metal prices to increased investor demand for safe-haven assets amid uncertainty surrounding possible US-Iran negotiations and ongoing geopolitical tensions.
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