At current prices, the looted gold is worth around $70 million. PHOTO: PIXABAY
KARACHI:
Gold and silver prices increased in both international and domestic markets after a four-day gap on Tuesday.
In the international bullion market, the price of gold rose by $10 per ounce to reach $5,010.
In the local market, the price of gold per tola increased by Rs1,000 to Rs523,762, while the price per 10 grams rose by Rs857 to Rs449,041.
Silver prices also recorded gains, with the per tola rate increasing by Rs128 to Rs8,569.
The price of silver per 10 grams rose by Rs110 to Rs7,346.
Spot gold was up 0.2% at $5,013.71 per ounce as of 0644 GMT. US gold futures for April delivery rose 0.3% to $5,018.10.
Iran’s Foreign Minister Abbas Araqchi said on Monday that the Strait of Hormuz is not closed to everyone, while some vessels sailed through the critical strait.
However, oil held above $100 a barrel as the US-Israeli war against Iran kept the strait largely shut, stranding tankers for weeks, in the biggest disruption to global supplies on record.
Spot silver rose 0.3% to $80.97 per ounce. Spot platinum gained 0.9% to $2,133.93, while palladium fell 0.2% to $1,595.75.
Read: Current account slips into $700m deficit
On the other hand, Pakistan’s external sector showed renewed strain in February as the country’s current account slipped back into deficit, highlighting the fragility of recent macroeconomic stability despite strong remittance inflows.
According to the latest balance of payments data released by the State Bank of Pakistan (SBP), the country posted a current account deficit of $700 million from July to February 2026, reversing the $479 million surplus recorded in the same period last year. The deterioration reflects persistent structural weaknesses in Pakistan’s trade balance, where import growth continues to outpace export performance.
For 8MFY26, the country posted a current account deficit of $700 million, compared with a surplus of $479 million during the same period last year, stated AHL.
However, in February 2026, a current account surplus of $427 million was recorded, compared with a deficit of $85 million in February 2025 and a surplus of $68 million in January 2026.
