Gold and silver prices surged significantly in both global and local markets after a four-day pause, driven by rising demand amid escalating geopolitical tensions involving Iran and statements from Donald Trump.

Market analysts say the sharp increase follows intensified retaliatory actions by Iran, which heightened uncertainty despite Trump’s announcement of a five-day ceasefire. This volatility pushed investors toward safe-haven assets like gold and silver, reversing a recent downward trend.

In the international bullion market, gold prices jumped by a substantial $163 per ounce, reaching $4,413.

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The surge had a direct impact on local markets, where the price of gold per tola rose sharply by Rs16,300 to settle at Rs464,062. Similarly, the price of 10 grams of gold increased by Rs13,975, reaching Rs397,858.

Silver prices also followed an upward trajectory. In global markets, silver rose by $5.07 per ounce to reach $69.80. Locally, the price of silver per tola increased by Rs570 to Rs7,454, while 10 grams climbed by Rs489 to Rs6,390.

The rebound comes just a day after a steep decline in precious metal prices. Previously, gold had plunged by $436 per ounce in international markets, dropping to $4,250.

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This led to a historic fall in domestic markets, where gold per tola dropped by Rs43,600 to Rs447,762 - marking one of the largest single-day declines in the country’s history.

Experts warn that continued geopolitical uncertainty may keep bullion markets highly volatile in the coming days.