US-Iran Tension Jumped Gold Prices in Pakistan

Gold prices in Pakistan recorded a strong increase on Thursday as renewed military escalation between the US and Iran drove investors toward safe-haven assets. According to data released by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold rose by 3.600 rupees per tola. Following this sharp rise, the price of 24-karat gold reached 433.836 rupees. Considered a direct reflection of uncertainties in global markets and geopolitical tensions on the local market, this situation has also significantly increased the demand for the precious metal within the country.

According to market data, the price of 10 grams of 24-karat gold also increased by 3.086 rupees to 371.944 rupees. A similar upward trend was observed in 22-karat gold; the value of 10 grams of 22-karat gold was reported to have risen by 2.829 rupees to reach 340.961 rupees. These figures serve as a concrete indicator of individuals seeking safe havens to protect their savings during times of global crisis. Jewellers state that market dynamics are rapidly changing in the face of increasing demand and that buyers are already taking positions in anticipation of even higher prices in the future.

A similar upward trend is being experienced in global gold markets; the price of gold per ounce climbed to 4.113 dollars with a gain of 36 dollars. This increase developed due to rapidly rising demand amid the atmosphere of geopolitical uncertainty following new military attacks launched by the US against Iran. This record-level value increase in international markets clearly reveals that investors worldwide are moving away from stocks and other risky assets and turning toward gold. This situation indicates that it is no longer just a regional crisis, but one that directly affects global financial markets.

On the other hand, silver prices continued to maintain a stable appearance in both national and international markets. In Pakistan, silver prices remained fixed at 6.421 rupees per tola and 5.504 rupees per 10 grams. Similarly, the silver price in international markets remained unchanged at 59.42 dollars per ounce. This stable stance of silver indicates that it has a different demand dynamic compared to gold during times of crisis, or that market players primarily prefer gold in their immediate search for safety.

As the tension between the US and Iran continues to expand the scope of hot conflicts in the region, fluctuations in commodity markets are expected to persist and increase. Experts predict that if the military escalation continues, the demand for gold, seen as a safe haven, may increase further, potentially carrying prices to new peaks. Meanwhile, whether silver and other precious metals will also be affected by this rally in the medium term is being closely monitored alongside the global supply chain and investor psychology. Such profound impacts of geopolitical developments on the global economy once again underscore the fragile link between international relations and commodity markets.