Pakistan gold market
Gold in Pakistan is quoted per tola — the traditional South Asian weight unit equal to 11.6638 grams — and the daily benchmark is published by the All Pakistan Sarafa Gems & Jewellers Association (APGJSA). Rates are also commonly quoted per 10 grams. Prices track the international spot price converted at the rupee exchange rate, plus a local premium, and they can move several thousand rupees per tola in a single session.
The market runs through sarafa (bullion) bazaars in Karachi, Lahore, Islamabad, Rawalpindi, Multan and Peshawar, where jewellers trade and retail buyers purchase. Demand has two distinct faces: wedding and festive jewellery, typically 22-karat, which dominates retail volumes; and investment buying of 24-karat bars, coins and biscuits. During wedding season and Eid, footfall in jewellery markets rises sharply, while investors tend to buy on price dips. Jewellers add making charges (mazdoori) on top of the metal price, and these vary by design complexity. Because the rupee's exchange rate moves independently of the dollar gold price, local tola rates can rise even on days the international price is flat.
Taxes and rules
Pakistan's tax treatment of gold has shifted over time, so verify current Federal Board of Revenue (FBR) rules before a large transaction. Historically, jeweller associations have resisted sales-tax proposals on retail gold — a proposed 3% sales tax was publicly rejected by sarafa associations — and much of the retail market operates without a clearly applied retail sales tax. The Finance Act 2024 provided sales-tax relief on gold imported under the entrustment scheme (SRO 760(I)/2013) to support the jewellery export sector. Separately, the standard 18% sales tax has surfaced in disputes over unsold jewellery returned under export schemes. In short: there is no single settled retail purchase rate — rates vary, and rules change, so check current FBR notifications and keep proper invoices for any significant purchase or sale.
For zakat calculators
Pakistan quotes gold per tola, which maps neatly onto zakat maths: the gold nisab of 87.48 grams equals almost exactly 7.5 tolas. Multiply your tolas by the current per-tola rate (or convert tolas to grams first), add cash and silver at market rates, and compare against the nisab. Many Pakistanis use the silver nisab for mixed wealth, since it is lower.
Try our free zakat calculator with live prices and automatic nisab check. Farmers: also see our ushr calculator.
Frequently asked questions
What is the gold rate per tola in Pakistan today?
The APGJSA publishes a daily per-tola rate for 24-karat gold, and the same rate is widely reported each morning by Pakistani media. Rates move daily with the international spot price and the rupee exchange rate — always check the current day's figure before buying.
What is the difference between 24K, 22K and 21K gold prices in Pakistan?
24K (99.9% pure) is the investment grade used for bars and coins and carries the highest per-tola rate. 22K is the standard for wedding jewellery, and 21K is also common for ornaments — each is priced proportionally lower according to its gold content, plus the jeweller's making charges.
How many grams are in one tola?
One tola equals 11.6638 grams (often rounded to 11.66 grams in the market). Ten tolas equal 116.638 grams. This is the standard conversion used across Pakistan's sarafa markets.
Is there sales tax on gold purchases in Pakistan?
There is no single settled answer: proposals such as a 3% retail sales tax were rejected by jeweller associations, targeted exemptions exist for the export sector, and the standard 18% rate has appeared in specific disputes. Rates vary — check current FBR rules and keep invoices for significant transactions.
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