MarketRadar read: positive
Gold in Pakistan rose Rs 3,500 per tola on Thursday, October 29. The 24-karat rate closed at Rs 425,636 per tola, per All Pakistan Sarafa Gems and Jewellers Association figures carried by Business Recorder. The 10-gram rate rose Rs 3,001 to Rs 364,914. Silver added Rs 61 to Rs 5,854 per tola, with 10 grams at Rs 5,018.
The move runs against the international price. Spot gold slipped 0.3% to $4,044.54 an ounce on the same day, so the local market and the dollar price moved in opposite directions. That gap stands out alongside the currency picture. The rupee had firmed 3 paisa on Wednesday, with the State Bank reporting a close of Rs 276.77 to the dollar. Thursday's interbank boards held near Rs 276.65-277.25. A softer rupee does not explain Thursday's local gold rise. The association's pricing and intraday timing are the likelier cause of the divergence.
Karat table, October 29
| Karat | Per tola | Per 10 grams |
|---|---|---|
| 24K | Rs 425,636 | Rs 364,914 |
| 22K | Rs 390,166 | Rs 334,510 |
| 21K | Rs 372,432 | Rs 319,405 |
| 18K | Rs 319,227 | Rs 273,690 |
| Silver | Rs 5,854 | Rs 5,018 |
The karat figures are internally consistent. 22K at Rs 390,166 is 22/24 of the 24K rate. 21K at Rs 372,432 is 21/24 of it. One tola equals 11.664 grams, which is how the 10-gram column converts.
City bid and ask at 1 pm
Gold.pk's 1 pm PST snapshot shows bid and ask quotes a shade below the association's national rate, with small city differences:
| City | 24K bid | 24K ask |
|---|---|---|
| Karachi | Rs 421,000 | Rs 422,000 |
| Lahore | Rs 421,050 | Rs 422,050 |
| Islamabad | Rs 421,100 | Rs 422,100 |
| Multan | Rs 421,250 | Rs 422,250 |
The spread between the highest and lowest city ask is Rs 250 on a Rs 422,000 quote, under 0.06%. Rates vary slightly by source and time of day. Jewellers add making charges on top of the metal rate, so a shop quote will sit above these figures.
The October round trip
Thursday's rebound follows a slide from the month's peak. The 24K rate touched Rs 442,036 on October 10. It fell to Rs 422,136 by October 28, a drop of Rs 19,900, then recovered to Rs 425,636 on October 29. October 23 alone saw a Rs 7,000 fall to Rs 424,536. The five sessions before the rebound took about Rs 17,000 off the rate. Against that path, a single Rs 3,500 day is a bounce inside a falling month, not a new trend. The rate remains Rs 16,400 below its October 10 peak.
For buyers, the practical read is simple. Check the karat stamp and get weight, karat, metal value and making charge written separately on the receipt. Bars and coins carry a smaller deduction on resale than jewellery, where making charges and wastage are not recovered. The association rate, the city bid/ask board and the international spot price are sampled at different times. A same-day gap between them, like Thursday's, is a pricing snapshot difference, not a signal on its own.
Key points
- 24K gold: Rs 425,636 per tola, up Rs 3,500.
- 10 grams: Rs 364,914, up Rs 3,001.
- Silver: Rs 5,854 per tola, up Rs 61.
- Spot gold abroad: $4,044.54 an ounce, down 0.3%.
- City asks at 1 pm: Rs 422,000 (Karachi) to Rs 422,250 (Multan).
- Still Rs 16,400 below the October 10 peak of Rs 442,036.
