KARACHI: Gold prices in Pakistan rose sharply on Wednesday, August 12, 2026, in line with gains in international bullion markets amid heightened geopolitical uncertainty.
According to rates issued by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold increased by Rs4,200 per tola to Rs463,936, compared with Rs459,736 in the previous session.
Similarly, the price of 10 grams of 24-karat gold rose by Rs3,601 to Rs397,750, from Rs394,149 a day earlier.
In the international market, gold prices increased by $42 per ounce to $4,415, compared with $4,373 in the previous session, according to the association.
Silver prices
Silver prices also increased in the local market.
The price of silver rose by Rs146 per tola to Rs7,111, compared with Rs6,903 in the previous session.
Oil prices
International oil prices also climbed more than 2% on Tuesday, reaching their highest level in more than a week as disruptions to Middle East energy flows and fading hopes for a US-Iran peace deal heightened concerns over global supplies.
However, Turkish state media reported on Wednesday that the United States and Iran had agreed to extend the ceasefire before the expiry of the 60-day deadline set under the Islamabad Memorandum of Understanding.
Citing sources, Turkish media reported that both sides had informed mediators of their agreement to extend the ceasefire.
The reported extension, just days before the deadline is due to expire on August 17, is being viewed as a significant development that could help preserve the truce reached after weeks of tensions and support regional stability.
Investors continued to closely monitor developments in the Middle East.
Gold is traditionally considered a safe-haven asset during periods of geopolitical and economic uncertainty. Its price remains sensitive to changes in global risk sentiment, inflation expectations and interest-rate expectations.