Gold prices in Pakistan experienced a sharp increase on Tuesday, March 31, 2026, mirroring a global upward trend in bullion markets, according to the All Pakistan Sarafa Gems and Jewellers Association. The surge reflects growing investor anxiety amid escalating geopolitical tensions and economic uncertainty worldwide.
In the local market, the price of gold per tola rose by Rs2,800 to reach Rs478,762, up from Rs475,962 on the previous trading day. Similarly, the price of 10 grams of 24-karat gold increased by Rs2,401 to Rs410,461, compared to Rs408,060. This upward movement aligns with international trends, where gold prices climbed by $28 to $4,560 per ounce, up from $4,532. Silver prices also followed suit, with the per tola rate rising by Rs260 to Rs7,784 from Rs7,524.
Analysts attribute the price hike to multiple factors, including rising oil prices and heightened geopolitical risks. Recent airstrikes involving the United States and Israel against Iran have intensified global tensions, prompting investors to seek refuge in safe-haven assets like gold. Market experts note that such geopolitical events often drive capital away from riskier investments, such as equities and speculative currencies, boosting demand for bullion.
Gold’s appeal as a hedge against inflation, currency depreciation, and market volatility remains strong, given its intrinsic value and limited supply. Unlike fiat currencies, gold is not subject to government or central bank policies, making it a reliable store of value during periods of instability. Historically, gold has performed well during crises, reinforcing its status as a financial safeguard. For more on gold’s role as a safe-haven asset, see Gold as an investment.
The broader economic context includes ongoing concerns about global inflation and monetary policies, which further support gold’s bullish outlook. As reported by Reuters, commodity markets have been volatile due to geopolitical developments. Additionally, BBC Business highlights how geopolitical tensions impact global trade and investment flows.
Market observers remain optimistic about gold’s long-term prospects, citing its resilience and enduring value. As uncertainty persists, gold is expected to maintain its allure both as an ornamental asset and a strategic financial hedge. Investors are advised to monitor global events and economic indicators closely, as these will continue to influence bullion prices in the coming months.
Source: ARY News