ISLAMABAD: Continuing its upward trend, gold prices in Pakistan surged by Rs7,900 per tola on Thursday, pushing the rate of the precious metal to Rs523,962 in the local market, according to market data.
The price of 10 grammes of gold also recorded a notable increase of Rs6,773, reaching Rs449,212.
In the international market, gold extended gains after rising more than 2% in the previous session, as geopolitical tensions between the United States and Iran drove investors toward safe-haven assets while traders assessed the monetary policy outlook of the Federal Reserve.
Spot gold was up 0.7% at $5,012.83 per ounce by 0634 GMT, while US gold futures for April delivery rose 0.4% to $5,031.20.
Market analysts said geopolitical uncertainty remained a key factor influencing investor sentiment, particularly amid reports suggesting the possibility of prolonged military escalation in the Middle East. The White House acknowledged some progress in recent diplomatic engagements but noted that significant differences remained on certain issues.
Meanwhile, top US national security officials met to review the regional situation and military preparedness timelines.
Silver prices also advanced, climbing 2.7% to $79.24 per ounce after posting gains of more than 5% in the previous session. Analysts at Saxo Bank said tight supply conditions and low inventory levels ahead of contract delivery were supporting silver prices, although further stability would depend on sustained upward momentum.