KARACHI: Gold prices in Pakistan witnessed a sharp increase on Friday, June 12, ahead of the federal budget for fiscal year 2026-27.
According to rates issued by the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola surged by Rs7,250 to Rs439,966, compared to Rs432,716 on the previous trading day.
Similarly, the price of 10 grams of 24-karat gold rose by Rs6,525 to Rs375,947 from Rs369,422. The price of 10 grams of 22-karat gold increased by Rs5,925 to Rs344,923, up from Rs338,998.
In the international market, gold prices climbed by $72.50 per ounce to $4,175.30, compared to $4,102.80 in the previous session.
Meanwhile, silver prices also recorded significant gains. The price of silver per tola increased by Rs190 to Rs7,079 from Rs6,889, while the rate for 10 grams of silver rose by Rs171 to Rs6,028 from Rs5,857.
In the global market, silver prices increased by $1.90 per ounce to $66.00 from $64.10.
Market analysts attributed the rise in precious metal prices to sustained investor demand for safe-haven assets amid growing geopolitical uncertainty.
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Investors are closely watching developments in the Middle East, including tensions involving Iran, Israel, and Lebanon, which continue to impact global commodity and energy markets.
Analysts said gold’s long-term outlook remains positive due to its traditional role as a hedge against inflation, currency depreciation, and geopolitical risks.
They added that ongoing geopolitical tensions and volatility in energy markets are likely to support investor demand for gold in the months ahead.