Pakistan is one of the few remaining markets where the tola, not the gram, is the unit that matters. Rates are announced per tola — 11.6638 grams — and that is how prices are discussed in the Sarafa bazaars of Karachi, Lahore and Rawalpindi.
The daily rate is published by the All Pakistan Sarafa Gems and Jewellers Association, which takes the international spot price in dollars per troy ounce, applies the prevailing rupee exchange rate, and converts to a per-tola figure.
How the local rate is derived
The arithmetic is worth understanding because it explains why the Pakistani gold price sometimes rises on a day when international gold has not moved at all.
The chain runs: spot price in USD per troy ounce, divided by 31.1035 to get dollars per gram, multiplied by the USD/PKR exchange rate, then multiplied by 11.6638 for a per-tola figure.
That second step is the one that dominates. When the rupee weakens against the dollar, the rupee price of gold rises even if the metal is flat in dollar terms. A large share of the moves in the local rate over recent years has come from the currency rather than from gold.
Tola, gram and purity
24K and 22K are the two rates that get quoted. 24K is the reference price and the form bought as bars and coins; 22K is the jewellery standard, and jewellery sold as 21K and 18K is priced down from the 24K rate proportionally.
One tola is 11.6638 grams, so a tola rate divided by 11.6638 gives the per-gram figure. Both are shown below, because younger buyers and online sellers increasingly quote grams while traditional dealers stay with the tola.
Making charges — usually called *majoori* — are quoted separately from the metal and vary widely between a machine-made chain and handworked bridal sets. As everywhere, they are not recovered when you sell.
Common questions
How many grams are in a tola?
11.6638 grams. The figure is sometimes rounded to 11.664 in published rates; the difference is immaterial at retail quantities but adds up on large transactions.
Why does the Pakistani gold rate rise when world prices are flat?
Because the local price is the dollar price multiplied by the USD/PKR rate. A weakening rupee raises the rupee cost of gold on its own, independently of what the metal is doing internationally.
Is 21K common in Pakistan?
Less so than in the Gulf. 22K dominates jewellery and 24K dominates investment buying, though 21K pieces do appear, particularly in designs imported from or influenced by Gulf markets.
Sources
Tax rates and regulations were checked in July 2026 and do change. Verify against the official sources above before acting on them. Corrections to [email protected] — Mohammed Jamil.