Global gold prices surged to historic highs after escalating geopolitical tensions in the Middle East triggered panic in financial markets.
Following reports of military strikes involving the United States, Israel, and Iran, investors rushed toward safe-haven assets. As a result, gold crossed the psychological level of $5,400 per ounce, with some futures trades even approaching $5,500.
According to the All Pakistan Jewellers Manufacturers Association, Asian markets also witnessed a sharp rally in gold prices as global uncertainty increased.
Market analysts say investors shifted funds from stocks and other assets into gold due to fears of economic instability and rising inflation. Oil prices also jumped by nearly 13%, adding further pressure on global markets.
Experts warn that if the conflict expands and tensions escalate further in the region, gold prices could potentially climb between $6,000 and $6,300 per ounce by the end of 2026.
Despite the global surge, Pakistan’s local gold market recently experienced a temporary correction after record highs, highlighting the volatility currently dominating precious metal markets worldwide.
