Karachi, February 28, 2026: Gold prices in Pakistan recorded a sharp surge on Saturday, climbing by Rs10,000 per tola, as escalating geopolitical tensions fueled strong demand for the safe-haven asset, bullion market dealers said.
According to local market data, the price of 24-karat gold per tola increased to Rs550,562, up from Rs540,562 recorded in the previous trading session. Despite the latest jump, the precious metal remains below its all-time high of Rs572,562 per tola, which was reached on January 29, 2026.
Similarly, the price of 24-karat gold per 10 grams rose by Rs8,574, settling at Rs472,018 in the domestic bullion markets.
Market analysts attributed the strong upward momentum in gold prices to heightened geopolitical risks, particularly following Israel’s reported attack on Iran and the subsequent response by the Iranian government. Experts warned that gold prices could continue to rise in the coming days if global tensions intensify further.
In the international market, gold prices also surged, gaining $100 to reach $5,278 per ounce, compared to the previous close of $5,178 per ounce. The global rally further supported the upward trend in local bullion prices.
With uncertainty gripping global markets, investors are increasingly turning to gold as a hedge against volatility, pushing prices higher both locally and internationally.