The impact of worsening geopolitical conditions around the world is now becoming increasingly visible in global financial markets, where growing uncertainty has prompted investors to shift toward safe-haven investments.
According to the local bullion market, gold and silver prices have surged to record-high levels both globally and domestically, surprising traders as well as ordinary buyers.
In the international bullion market, gold prices continued their upward trend for the second consecutive day on Tuesday. The price of gold rose by an additional 9 dollars to reach a new historic high of 4,595 dollars per ounce.
Global analysts say that escalating political and military tensions in the Middle East, Europe, and Asia, along with rising friction between major economies and uncertainty about future developments, have significantly increased investor interest in gold.
The rise in international prices was immediately reflected in Pakistan’s local bullion markets, where gold prices shattered all previous records. In the local market, the price of 24-carat gold per tola increased by 900 rupees to reach a new all-time high of 481,862 rupees.
Similarly, the price of 10 grams of gold rose by 771 rupees to 413,118 rupees, marking the highest level in the country’s history.
Bullion traders say that changing global investment patterns and volatility in currency markets have led to an extraordinary surge in demand for gold. They explain that whenever global instability intensifies, gold is considered the safest investment option, resulting in sharp price increases.
Alongside gold, silver prices also recorded a notable rise. In the local market, the price of silver per tola increased by 180 rupees to 9,075 rupees, while the price of 10 grams of silver rose by 154 rupees to reach a record level of 7,780 rupees.
Experts believe that rising demand for silver for both industrial use and investment purposes is contributing to the upward trend in prices.
Economic analysts warn that if global political tensions persist and uncertainty surrounding major financial institutions continues, further increases in precious metal prices cannot be ruled out. However, they also note that rising prices are making gold and silver increasingly unaffordable for ordinary consumers, potentially affecting jewelry purchases and overall demand.
