Global gold prices moved sharply higher on Monday, with spot gold rising above $4,320 per ounce after reports of a preliminary peace agreement between the United States and Iran. The precious metal extended its gains for a third consecutive session as investors reacted to a weaker US dollar and shifting expectations for global inflation.
According to market data, spot gold traded around $4,323 per ounce, marking a gain of more than 2 percent during early trading. Analysts say the combination of easing geopolitical tensions, falling oil prices, and a softer dollar has supported demand for gold as a store of value.
In Pakistan, international price movements have also influenced local bullion markets. Recent estimates place 24-karat gold at around Rs37,700 per gram, while the price per ounce is approximately Rs1.17 million, though local market rates may vary depending on city and dealer premiums.
Market experts believe that the future direction of gold will largely depend on the durability of the reported US-Iran agreement and upcoming signals from major central banks. If the peace deal holds and inflation concerns continue to ease, gold could remain volatile in the short term despite its recent rally.
Key Gold Price Information (June 15, 2026):
- International Spot Gold: Around $4,323 per ounce
- 24K Gold in Pakistan: Around Rs37,700 per gram
- 22K Gold in Pakistan: Around Rs34,600 per gram
- Main Market Drivers: US-Iran peace developments, weaker US dollar, and changes in oil prices.
Also read: Gold Price in Pakistan Drops Slightly — Market Update
