Gold prices in Pakistan saw a sharp rise on Monday as investors moved toward safe haven assets amid growing geopolitical tensions.
According to the Pakistan Sarafa Association, the price of per tola gold increased by Rs13,300 and reached Rs563,862, while the price of 10 grams rose by Rs11,402 to Rs483,420.
In the international market, the price of gold climbed by $133 to $5,411 per ounce.
Experts said that airstrikes by the United States and Israel on Iran and the subsequent response had increased demand for safe investment options, pushing gold prices higher.
At the same time, the Pakistan Stock Exchange started the new business week with heavy losses as rising regional tensions affected investor confidence.
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The market fell sharply after the joint US and Israeli airstrikes on Iran and the reported killing of Iranian Supreme Leader Ali Khamenei.
The development caused major concern in regional financial markets. The KSE-100 Index dropped by 15,071.01 points, falling 8.97 percent to close at 152,991.15 compared to the previous level of 168,062.16.
Trading was temporarily suspended as investors tried to reduce risks amid fears of further instability in the region.
Analysts said the steep decline reflects increasing uncertainty about possible economic impacts if the regional situation continues to escalate.