Gold price in Pakistan today: up Rs13,900 to Rs426,036 per tola
Gold jumped Rs13,900 a tola on Wednesday after the US election knocked the dollar. Here are today's tola, 10-gram and silver rates, and why it moved.
Gold in Pakistan jumped Rs13,900 per tola on Wednesday, 4 November, to Rs426,036 for 24-carat, according to the All-Pakistan Gems and Jewellers Sarafa Association. Ten grams went up Rs11,917 to Rs365,257. A day earlier the price had not moved at all, sitting at Rs412,136 a tola.
Today’s rates (24-carat, Wednesday 4 November)
- Per tola: Rs426,036 (up Rs13,900)
- 10 grams: Rs365,257 (up Rs11,917)
- Silver per tola: Rs5,663 (up Rs295)
- International gold: $4,035 an ounce in the association’s rate, up $139
These are the association’s rates for the day. Your local jeweller’s price for 22-carat or 21-carat jewellery will be lower per tola, but making charges are added on top, so ask for the gold rate and the making charge separately.
Why gold rose overnight
The trigger was in Washington, not Karachi. Democrats were projected to win both houses of the US Congress in Tuesday’s midterm elections, and the US dollar slipped to a one-month low against other major currencies. Gold is priced in dollars, so a weaker dollar makes it cheaper for buyers using other currencies, and demand rises.
Spot gold climbed back above $4,000 an ounce in Asian trading for the first time in days, with market data showing a rise of more than 2.5% by mid-afternoon Pakistan time. Analysts also said the prospect of gridlock between President Trump and the new Congress, and of a more unpredictable year in US politics, pushed people towards a safe asset.
Pakistan’s local price follows the international rate closely, adjusted for the rupee, which has stayed steady at about Rs276.5 to the dollar in the open market data we track. With the rupee flat, almost all of today’s jump came from the world price.
What it means if you are buying
Weddings are on across Pakistan, and many families buy gold sets in November and December. A rise of nearly Rs14,000 in one day adds about Rs35,000 to the gold cost of a 2.5-tola set before making charges. Gold had fallen back below $4,000 in late October, and families who had been waiting for a dip have now seen part of it reversed in a single session.
Next week’s moves depend on the US jobs report due on Friday and on whether the Iran talks through Qatar make progress. You can follow live gold, dollar and crypto prices on our Money & Markets page.
This is information, not investment advice; prices change through the day, so check with your jeweller before you buy or sell.
