Gold Rate in Pakistan Falls Rs 11,900 in a Week to Rs 448,336 a Tola

The latest gold rate in Pakistan, as of Friday afternoon, 25 September 2026, is Rs 448,336 per tola for 24 karat and Rs 384,375 per 10 grams. That is the All Pakistan Sarafa Gems and Jewellers Association rate set on Thursday 24 September, after a fall of Rs 5,600 in one session. Over four sessions this week gold lost Rs 11,900 a tola.

One point first, because most "today" reports skip it. As of about 3pm on Friday we found no new association rate for 25 September. So the Rs 448,336 figure is Thursday's rate, and it is still the rate in force. If the association sets a new rate later today, it replaces this one.

We could not read the rate at source. The association has no website we could find, which is the same problem we hit on 16 September. Every rate below is the association's figure as reported on 24 and 25 September. We checked that the reports agree with each other and that the daily changes add up.

The gold rate today in Pakistan is Rs 448,336 a tola

Gold is Rs 448,336 per tola and Rs 384,375 per 10 grams for 24 karat, the association rate set on 24 September and still in force on 25 September. Silver is Rs 6,837 a tola. International gold was reported at about 4,258 dollars an ounce.

The association publishes 24 karat only. The 22, 21 and 18 karat figures are simple fractions of the 24 karat rate. Our numbers match the ones printed in the press to within one rupee, so everyone is doing the same sum. A gram of 24 karat works out at about Rs 38,437, because a tola is 11.664 grams.

No shop will sell you jewellery at these numbers. They are the metal price. Making charges go on top, and we come to those below.

Gold fell Rs 11,900 a tola in four sessions this week

The rate carried into Monday 21 September was Rs 460,236. It then fell in every session: Rs 2,700, Rs 1,800, Rs 1,800 and Rs 5,600. That is Rs 11,900 in four days, or about 2.6 per cent, by our arithmetic.

The sessions, in order, as reported:

1. Start of the week: Rs 460,236, the rate carried into 21 September, with the ounce at about 4,377 dollars.
2. 21 September: down Rs 2,700 to Rs 457,536.
3. 22 September: down Rs 1,800 to Rs 455,736.
4. 23 September: down Rs 1,800 to Rs 453,936, with the ounce at about 4,314 dollars.
5. 24 September: down Rs 5,600 to Rs 448,336, with the ounce at about 4,258 dollars.

Rs 448,336 is the lowest rate in our September record. The previous low was Rs 449,336 on 15 September. On 16 September gold then jumped Rs 7,900 in a day, which we covered in the Rs 457,236 bounce. So a low this month has not meant the fall was over.

Local gold follows the ounce price and the rupee

The Pakistani rate is the international ounce price turned into rupees per tola, plus a small local premium. This week the ounce fell about 2.7 per cent and the local rate about 2.6 per cent. The rupee barely moved, so almost all of the fall came from abroad.

The arithmetic is short. A tola is 0.375 of an ounce. At 4,258 dollars an ounce, a tola of gold is worth about 1,597 dollars. Divide Rs 448,336 by that and you get about Rs 281 per dollar. Do the same on Monday's figures and you get about Rs 280. The number that moved was the ounce, not the rupee.

That Rs 281 is not an exchange rate you can trade at. It includes the local premium, and it is our own sum. But it is a useful check. If the ounce falls and the local rate does not follow within a session or two, something local is going on, such as a shortage or a rule change. This week there was no sign of that.

One report put the fall in the ounce down to a stronger US dollar and expectations that the US Federal Reserve will keep interest rates high. Those are market views, not facts we can check. The tola rate and karat arithmetic works the same whatever the reason.

A falling rate helps buyers only if they check the full bill

A Rs 11,900 drop on a tola is real money for a wedding set. But the metal rate is only part of the price. Making charges, the karat, the weight and the shop's buying margin can each move the final bill more than a day's change in the rate.

Take a 22 karat set of 2 tolas. At this week's rates the metal alone fell by about Rs 21,800. A making charge that is a few per cent higher at one shop than another can eat that saving. So compare the charge, not only the rate.

1. Note the association rate for the day, and the date it was set. On a Friday afternoon it may still be Thursday's.
2. Ask the shop for its gold rate and its making charge as two separate numbers.
3. Ask what karat the piece is, and check the stamp on it. 916 means 22 karat and 875 means 21 karat.
4. Get the weight, karat, rate and making charge written on the receipt.
5. If you are selling, ask for the shop's buying rate before you hand anything over. It is lower than the association rate, and the gap is the shop's margin.

On hallmarks, be careful. Some jewellers say the Pakistan Standards and Quality Control Authority requires a hallmark on all gold. We opened the authority's own frequently asked questions page and it says nothing about gold or hallmarks. So a stamp is a claim by the maker, not proof. If a large purchase matters, a purity test at an independent lab costs far less than a wrong karat.

Rate websites are the other trap. In August we opened three of them within minutes and got three different prices, set out in the day three sites showed three prices. On 25 September one rate site we saw was still headed 12 September. Check the date on any number before you use it.

Common questions

What is the gold rate in Pakistan today, 25 September 2026?

Rs 448,336 per tola and Rs 384,375 per 10 grams for 24 karat. That is the association rate set on 24 September, still in force on 25 September as of about 3pm.

How much did gold fall this week?

Rs 11,900 a tola over four sessions, from Rs 460,236 to Rs 448,336. The biggest single fall was Rs 5,600 on 24 September.

What is the 22 karat gold rate today?

About Rs 410,975 a tola. The association publishes 24 karat only, and 22 karat is 22 parts in 24 of that rate.

What is the silver rate today?

Rs 6,837 a tola, down Rs 171 on 24 September, as reported from the association rate.

Why did gold fall in Pakistan?

Because the international price fell. The ounce dropped about 2.7 per cent this week and the rupee was steady, so the local rate followed.

Is this the lowest gold rate this month?

Yes, among the September rates we have. It is Rs 1,000 below the 15 September low of Rs 449,336.

Last checked and sources

Last checked at about 3pm PKT on 25 September 2026. Gold rates change every session, so check the day's rate before you buy or sell.

We could not read the All Pakistan Sarafa Gems and Jewellers Association rate at source, because we found no website for it. The 24 September rates of Rs 448,336 per tola, Rs 384,375 per 10 grams, Rs 6,837 for silver and the daily changes are the association's figures as reported on 24 and 25 September. Morning reports on 25 September presented the same figures as that day's rate, and we found no new session for 25 September by 3pm. The week's earlier rates are also the association's as reported. The international price is reported: one report gave 4,258 dollars, another about 4,250, so we say "about". The 22, 21 and 18 karat rates, the per gram rate, the weekly change and the implied rupee per dollar figure are our own arithmetic. We opened the Pakistan Standards and Quality Control Authority's frequently asked questions page on 25 September 2026 and found nothing on gold or hallmarks.