KARACHI:(Daily Jurat) Gold prices in Pakistan saw a sharp increase on Saturday, February 28, 2026, following gains in the international bullion market after the United States and Israel launched a major attack on Iran, the All Pakistan Sarafa Gems and Jewellers Association (APSGJA) reported.
The price of 24-karat gold per tola rose by Rs10,000, settling at Rs550,562, while 10 grams of 24-karat gold increased by Rs8,574 to Rs472,018.
Silver prices also climbed, with the price per tola rising by Rs388 to Rs9,862.In the international market, gold prices jumped $100 to $5,278 per ounce.
The attacks by Israel and the United States have escalated tensions in the Middle East, further dimming hopes for a diplomatic resolution to Tehran’s long-standing disputes with the West.
Market analysts said the outlook for gold remains bullish amid ongoing global economic uncertainty and sustained investor demand for safe-haven assets. They highlighted that gold’s intrinsic value, limited supply, and independence from government or central bank policies make it a reliable hedge against inflation, currency depreciation, and broader economic instability.
Analysts added that geopolitical tensions — including armed conflicts, trade disputes, and heightened market volatility — often drive investors away from riskier assets such as equities and speculative currencies, shifting demand toward bullion, which typically supports gold prices even during periods of broader economic stress.
