Gold prices surge high amid Middle East tensions and Israeli strike on Iran

Rising geopolitical tensions in the Middle East, particularly following Israel's recent military strike on Iran, have caused a sharp spike in gold prices both internationally and domestically, 24NewsHD TV channel reported on Friday.  

The strikes were reported on Friday morning, two days before Iran and the United States (US) were expected to hold the sixth round of talks over Tehran’s nuclear program in Oman on Sunday.

 According to international financial reports, the prices of gold in the global market rose by $46 per ounce, reaching a high of $3,417 per ounce.

This significant increase reflects the growing uncertainty in the region, as market participants seek shelter from potential economic fallout and increased volatility in stock markets.

According to the All Pakistan Sarafa Gems and Jewelers Association, the price of 24 karat gold per tola increased by Rs 4,600 and was traded at Rs 361,500 today, compared to its sale at Rs 356,900 on the last trading day. 

Similarly, the price of 10 grams of gold saw a rise of Rs 4,023, now standing at Rs 310,007.

Silver prices have also experienced a notable jump.

One tola of silver is now priced at Rs 3,780 after an increase of Rs 35.