Gold prices rise in Pakistan following Budget 2026-27 announcement

KARACHI: Gold prices in Pakistan registered a sharp increase on Saturday, June 13, as investors continued to seek safe-haven assets after the announcement of the federal budget for the 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 Rs4,370 to Rs444,336, up from Rs439,966 in the previous trading session.

Similarly, the price of 10 grams of 24-karat gold increased by Rs3,933 to Rs379,880, compared with Rs375,947 a day earlier.

In the international market, gold prices climbed by $43 per ounce to $4,219, up from $4,175.30 in the previous session.

Silver prices also posted significant gains, with the price per tola rising by Rs200 to Rs7,279, compared with Rs7,079 on the previous trading day.

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 monitoring developments in the Middle East, including tensions involving Iran, Israel and Lebanon, which continue to influence 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 persistent geopolitical tensions and volatility in energy markets are likely to support investor demand for gold in the coming months.

Earlier, Pakistan Finance Minister Muhammad Aurangzeb presented the budget for financial year 2026-27 with a total outlay Rs18.7 trillion in National Assembly on Friday.

The finance minister started his speech by paying tribute to armed forces of Pakistan who defeated a much larger enemy in May 2025 and the civil and military’s leadership’s efforts which took Pakistan to an elevated status in international diplomacy during the ongoing Iran war where both the US and Iran showed their trust in Pakistan’s mediation efforts.