Gold price in Pakistan today: Rs409,736 per tola after Rs10,800 crash
Gold lost Rs15,900 per tola in two days. Today's 24K and 22K rates, the silver price, why it fell, and how the PSX ended a rough October.
Gold in Pakistan is selling at Rs409,736 per tola this Sunday, 1 November, after a Rs10,800 drop on Saturday, one of the biggest single-day falls this year. Since markets are shut on Sunday, Saturday’s rate from the All Pakistan Sarafa Gems and Jewellers Association is the one jewellers are working from today.
Gold rate today (as set on Saturday, 31 October)
- 24 karat, per tola: Rs409,736 (down Rs10,800)
- 24 karat, per 10 grams: Rs351,282 (down Rs9,259)
- 22 karat, per 10 grams: Rs322,020 (down Rs8,487)
- Silver, per tola: Rs5,388 (down Rs142)
- International gold: $3,872 an ounce (down $108)
Shops add their own making charges and the rate can differ slightly by city, so ask for the day’s association rate when you buy.
Why did gold fall so much?
Pakistan’s rate simply follows the world price, converted into rupees. On Friday, gold had already fallen Rs5,100 to Rs420,536 per tola, so the two-day drop comes to Rs15,900. On Thursday, the rate was Rs425,636.
The international rate the association works from was $108 an ounce lower, and the rupee price moved with it. Gold is bought as a “safe haven” when war fears rise, so news from the Gulf, Iran and the Strait of Hormuz can push it back up just as fast.
Should you buy now?
We don’t give buy or sell tips, and nobody can say where gold goes next week. What we can say: families buying for a wedding in the next few months have a cheaper window than at any time this week, while anyone who bought at the peak is sitting on a paper loss of about 4%. Gold has always swung like this in the short term; it is a long-term store of value, not a quick trade.
Stocks: a losing October for the PSX
The stock market had a weak month too. The benchmark KSE-100 index lost 3,560 points in October, about 2.1%, and closed Friday, 30 October, at 166,409. It was the index’s second monthly fall in a row.
The last week was a rollercoaster: a four-day rally added more than 4,800 points and took the index back above 167,000 on Thursday, before profit-taking pulled it under that level again on Friday. Rising oil prices, tension between the US and Iran and selling by foreign investors weighed on the market, which had also been digesting the State Bank’s rate rise to 12% on 26 October.
Trading resumes on Monday, 2 November, and the gold association will set a fresh rate in the morning. This is information, not investment advice.
