Price of 10 grams of 22-karat gold also sees notable rise
Gold prices in Pakistan soared on Friday, tracking a sharp uptick in international markets following Israel’s latest strike on Iran, which has fueled investor anxiety and driven demand for safe-haven assets.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola rose by Rs4,600, reaching a historic high of Rs361,500. Similarly, the price of 10 grams of 24-karat gold increased by Rs4,023, now standing at Rs310,007.
The price of 10 grams of 22-karat gold also saw a notable rise, climbing by Rs3,688 to Rs284,183.
In the international market, gold per ounce surged by $46, pushing the price to $3,417 — reflecting global market jitters amid fears of a broader conflict in the Middle East.
Traders attributed the spike to heightened geopolitical risk and the ongoing uncertainty surrounding global financial markets. “The sudden escalation between Israel and Iran has made investors worldwide cautious. They are pulling back from riskier assets and turning to gold, which is traditionally seen as a safe store of value,” said Muhammad Qasim Shikarpuri, President of the All Pakistan Sarafa Gems and Jewellers Association.
Meanwhile, silver prices also registered a sharp increase. The price of 24-karat silver per tola rose by Rs35 to Rs3,780, while the 10-gram rate increased by Rs30 to Rs3,240. In the international market, silver was trading at $36.22 per ounce after a $0.35 rise.