Gold prices in Pakistan up by Rs13,300 per tola amid US-Iran tensions

2026-03-02 - 09:24

KARACHI – Gold prices in Pakistan recorded a massive increase on Monday as investors rushed to safe-haven investment due to geopolitical tensions. According to Sarafa association, the price of per tola gold moved up by Rs13,300 to climb to 563,862 while the price of 10-gram surged to Rs483,420 after a hike of Rs11,402. In international market, the price of the precious commodity surged by $133 to reach $5,411 per ounce. Experts said the US-Israel strikes on Iran and the latter’s retaliation have increased the demand for the safe-haven, causing a dramatic increase in gold prices. Meanwhile, the Pakistan Stock Exchange (PSX) kicked off the new business week with significant losses as escalating geopolitical tensions weighed heavily on investor sentiment. The market plunged sharply after the US and Israel launched airstrikes on Iran, resulting in the assassination of Iran’s Supreme Leader, Ayatollah Ali Khamenei. This dramatic development sent shockwaves through regional markets, sparking uncertainty and driving the KSE-100 index down by 15,071.01 points to reach 152,991.15 points, a steep drop of 8.97% from the previous close of 168,062.16 points. The trading session was temporarily halted as investors rushed to minimize risk, fearing further instability in the region. Analysts highlighted that the sharp decline reflects growing concerns over the potential fallout from this escalation, which could lead to prolonged economic uncertainty.