Karachi's Sarafa Bazar is Pakistan's primary gold trading hub. Each morning the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) announces a benchmark gold rate which jewellers and bullion dealers in Lahore, Islamabad, Rawalpindi, Multan, Faisalabad, Peshawar and all other cities follow. Small variations between cities reflect local dealer premiums and transport logistics rather than separate pricing systems.
Pakistan's local gold price is directly derived from the international spot price of gold — traded 24 hours a day in US dollars per troy ounce on global commodity markets. The London Bullion Market Association (LBMA) Gold Price serves as the main global benchmark. Dealers convert the USD spot price to PKR at the prevailing interbank exchange rate and adjust for one tola (11.664 grams). A shift in either variable moves local Sarafa prices, which is why gold in Pakistan can rise even when global prices are flat, simply due to rupee depreciation.
Gold has been a trusted store of value for Pakistani households for generations. During periods of high inflation, currency devaluation or economic uncertainty, many Pakistanis convert savings into physical gold — particularly 22K jewelry and 24K bars or coins — as a hedge against purchasing power loss. Pakistani weddings and festivals also drive strong seasonal demand, especially between October and February and during Eid periods, which can push local Sarafa prices slightly above the international benchmark.
When buying gold jewelry in Pakistan, the quoted Sarafa rate applies to raw gold by weight and karat. Final jewelry prices also include a making charge — the craftsmanship fee — which varies by design, city and jeweller. Making charges typically range from a few hundred to several thousand rupees per tola. When selling jewelry back to a dealer, buyers deduct making charges and apply a buying margin. Pure investment gold such as 24K bars and coins carries minimal making charges and is easier to liquidate close to the prevailing Sarafa rate.
The tola is the traditional South Asian unit for gold measurement. Pakistani Sarafa markets price gold per tola; international markets use troy ounces (31.1035 g). One troy ounce equals approximately 2.667 tolas.
A 1% depreciation in the Pakistani rupee against the US dollar raises local gold prices by approximately 1–1.5%, regardless of whether international gold prices have moved at all on that day.
Gold demand in Pakistan peaks during the wedding season (October–February) and around Eid-ul-Fitr and Eid-ul-Adha. Heightened demand during these periods can push Sarafa prices above the international benchmark temporarily.
Today's gold rate in Pakistan is set daily by the Karachi Sarafa Bazar benchmark announced by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). Check the live rate table above for the current 24K, 22K, 21K and 18K gold prices per tola, per 10 grams and per gram — updated throughout the trading day.
24K gold is 99.9% pure — the most valuable per gram, used for investment bars and coins. 22K (91.6% pure) is the dominant choice for Pakistani jewelry due to its balance of purity and durability. 21K (87.5% pure) is popular in traditional bridal sets and Gulf-influenced designs. 18K (75% pure) is preferred for hallmarked fine jewelry where intricate stonework requires a harder alloy.
Gold prices in Pakistan change daily because they are tied to two key variables: the international spot price of gold (in USD per troy ounce) and the USD to PKR exchange rate. Changes in global investor sentiment, geopolitical events, US Federal Reserve decisions, inflation data and local currency pressures can all move the Sarafa rate, independently or together.
One tola equals 11.664 grams. The calculation is: (International gold price in USD per troy ounce ÷ 32.148) × current USD/PKR interbank rate = PKR per tola at 24K purity. For lower karats, multiply by the purity fraction — 0.916 for 22K, 0.875 for 21K, 0.75 for 18K. Retail prices then include dealer margins and applicable government taxes.
Karachi's Sarafa Bazar sets the national daily gold rate benchmark in Pakistan, announced by the APGJSA. Gold rates in Lahore, Islamabad, Rawalpindi, Multan, Faisalabad, Peshawar and all other cities follow this benchmark closely. Price differences between cities are small and generally reflect local dealer premiums rather than separate pricing mechanisms.
Physical gold has historically preserved purchasing power in Pakistan during periods of rupee depreciation and high inflation. Many households treat gold as a long-term savings vehicle and currency hedge. That said, gold carries price risk, generates no yield and requires safe storage. Prospective investors should consider their financial goals, time horizon and risk tolerance before committing funds.
Zakat on gold is obligatory when you own gold equal to or more than the Nisab threshold — 7.5 tola (approximately 87.48 grams) of 24K gold — for one full Islamic lunar year. The Zakat payable is 2.5% of the total value of your gold at the current market rate. Use the Zakat calculator above which covers gold, silver, cash and other assets together for a complete calculation.
The Nisab for Zakat on gold is 7.5 tola, equivalent to approximately 87.48 grams of 24K pure gold. Many Islamic scholars recommend using the silver Nisab threshold for total wealth calculations — as it is lower — to ensure Zakat reaches those who need it most. The Zakat calculator on this page uses the silver Nisab as the default wealth threshold.
The primary drivers are: (1) the international gold spot price on global commodity markets, (2) the USD/PKR exchange rate, (3) State Bank of Pakistan monetary policy and interest rate decisions, (4) global geopolitical risk and investor sentiment, (5) seasonal local demand during weddings and Eid festivals, and (6) government import duties and taxes applied to gold imports into Pakistan.
International gold trades in USD per troy ounce. To convert to PKR per tola: divide the USD/troy ounce price by 32.148 to get USD per tola, then multiply by the prevailing USD/PKR interbank rate. The result is the 24K PKR per tola value before dealer margins and taxes are added. Use the gold calculator above to compute the value of any weight and karat combination at today's rate.
Yes. The interactive gold price graphs above display 30-day, 90-day and 180-day price movements for Karachi, Lahore and Islamabad. These charts allow you to analyse market trends, identify seasonal price patterns and understand how international bullion movements translate into local Sarafa rate changes over time.