Gold prices remained elevated on Friday as ongoing geopolitical tensions in the Middle East continued to support demand for the precious metal, despite a slight decline in international markets.
Spot gold slipped around 0.5% to approximately $4,076.53 per ounce during Friday’s trading. Even with the daily decline, the metal is on track to record its first monthly gain in five months, rising about 1.8% in July.
Analysts said investors continue to view gold as a safe-haven asset due to uncertainty surrounding the renewed US-Iran conflict and concerns over global trade routes. However, a stronger US dollar and expectations of tighter monetary policy limited further gains in gold prices.
In Pakistan, local gold prices remain influenced by both international bullion rates and the exchange rate. According to recent market data, 24-karat gold is trading at around Rs. 430,200 per tola, while 10 grams are priced at approximately Rs. 368,830.
Market experts believe gold could remain volatile in the coming days as investors closely monitor developments in the Middle East, US monetary policy, and global inflation trends. Any further escalation in regional tensions could increase demand for safe-haven assets, while stronger economic data may put pressure on gold prices.
Investors are advised to keep an eye on international market movements and local bullion rates before making buying or selling decisions, as gold prices can change several times during the trading day.
