Gold edged up slightly in Pakistan on Wednesday, with 24-karat gold trading at around Rs430,000 per tola in Karachi’s sarafa bazaars, according to live rate trackers Hamariweb and UrduPoint, which quoted near-identical figures for the day. That is Rs500 higher than Tuesday’s Rs429,500 level, a modest uptick even as the international market continued to soften.
Globally, spot gold slipped to around $4,114 per ounce, down roughly 0.26 percent on the day and marking a fourth straight session of declines, according to Trading Economics data cited in market commentary. Dealers pointed to persistently high oil prices — Brent crude holding near $110 a barrel — as the main drag, since elevated fuel costs keep inflation expectations high and have pushed up the odds of a Federal Reserve interest-rate hike in December to as much as 92-94 percent by some estimates, even though the Fed itself is widely expected to hold rates steady at its October 27-28 meeting. Higher rates make non-yielding assets like gold less attractive to international investors. The modest rise in Pakistan’s local rate despite the softer global trend reflects how Karachi’s sarafa associations typically price off the previous day’s international close and the dollar-rupee rate rather than live intraday moves; the rupee traded close to its recent range, near Rs277 to the dollar in the interbank market.
Silver held roughly steady, with Hamariweb quoting Rs6,301 per tola, closely corroborated by Pakistan Observer’s sarafa-linked rate of Rs6,234 per tola — a tight, consistent cluster. A competing tracker, UrduPoint, quoted a noticeably higher Rs6,767 per tola, a gap not supported by international silver prices or by the closer agreement between the other two sources, so this report follows the lower, mutually-corroborated figures.
| Metal / Karat | Per Tola | Per 10 Grams |
|---|---|---|
| Gold 24K | Rs 430,000 | Rs 368,660 |
| Gold 22K | Rs 394,167 | Rs 337,938 |
| Gold 21K | Rs 376,250 | Rs 322,578 |
| Gold 18K | Rs 322,500 | Rs 276,495 |
| Silver | Rs 6,301 | Rs 5,401 |
| International Gold | $4,114 per ounce | |
Gold and silver rates in Pakistan are revised daily by local sarafa associations based on the international bullion price, the dollar-rupee exchange rate, and import costs, so figures can vary slightly between cities and even between dealers within the same city. Buyers are advised to confirm the exact rate with their local jeweller before a transaction, since the figures above reflect the broad market average for Karachi. For a look at how rates moved a day earlier, readers can check Tuesday’s gold price update.
