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Updated 22 October 2026 · Source: All-Pakistan Sarafa Association
Sarafa Bazar Gold Rate Today in Pakistan
The Sarafa Bazar gold rate today is Rs434,536 per tola for 24K gold and Rs372,544 per 10 grams, as announced by the All-Pakistan Sarafa Gems and Jewellers Association (APGJSA) in Karachi on 21 October 2026. Below you can see how this official rate compares with the open market and the world bullion price.
Sarafa Bazar Gold Rate Today: 21 October 2026
Sarafa Bazar gold rate today: Rs434,536 per tola for 24K gold, Rs398,325 for 22K and Rs380,219 for 21K. This is the bullion rate the APGJSA announced on 21 October 2026, down Rs900 from 20 October. Jewellers in every city quote from this figure and then add their own making charges.
| Karat (hallmark) | Per tola | Per 10 grams | Per gram |
|---|---|---|---|
| 24K (999) | Rs434,536 | Rs372,544 | Rs37,255 |
| 22K (916) | Rs398,325 | Rs341,499 | Rs34,150 |
| 21K (875) | Rs380,219 | Rs325,976 | Rs32,598 |
| 18K (750) | Rs325,902 | Rs279,408 | Rs27,941 |
| Silver | Rs6,207 | Rs5,321 | Rs532 |
Only 24K and silver are announced directly by the association. The 22K, 21K and 18K figures are worked out from the 24K rate by purity (for example 22/24 × 24K). See all karats on the gold rate today page.
Sarafa Rate vs Open Market Rate vs World Bullion Rate
Three different gold prices are quoted in Pakistan, and confusing them is the most common reason buyers think they have been overcharged:
| Rate | Who sets it | Today (24K, per tola) | What it includes |
|---|---|---|---|
| Sarafa (bullion) rate | APGJSA, Karachi | Rs434,536 | Pure gold only: world price, dollar rate and a local premium |
| World bullion rate | International spot market (in US$ per ounce) | Rs427,996 | $4,120 per ounce × Rs277.02 per dollar, converted to a tola |
| Open market (shop) rate | Each jeweller | From Rs434,536 for a 24K bar | Sarafa rate + making charges for jewellery; a buy-back price is lower |
On 21 October 2026 the Sarafa rate was Rs6,540 per tola (1.5%) above the world bullion price. That gap is the local premium: it covers the cost of bringing gold into the country, dealer margins and local supply and demand. When the premium turns negative, gold is cheaper in Pakistan than abroad and dealers stop importing.
In the open market, a 24K bar sells at or very near the Sarafa rate, while a 22K ring is priced at the 22K rate plus making charges. A 1-tola 22K ring with 10% making costs about Rs438,157, not Rs398,325. Our guide to gold making charges explains the usual ranges.
Sarafa Premium Tracker: Last 10 Announcements
This table shows exactly how far each official Sarafa rate sat above the world price on the same day. All figures use the same formula, so they can be checked: world price per tola = US$ per ounce × rupees per dollar ÷ 31.1035 × 11.6638.
| Date | World gold ($/oz) | Rs per US$ | World rate per tola | Sarafa 24K per tola | Premium |
|---|---|---|---|---|---|
| Wed 21 Oct | $4,120 | 277.02 | Rs427,996 | Rs434,536 | Rs6,540 (1.5%) |
| Tue 20 Oct | $4,129 | 277.02 | Rs428,931 | Rs435,436 | Rs6,505 (1.5%) |
| Mon 19 Oct | $4,165 | 277.02 | Rs432,671 | Rs439,036 | Rs6,365 (1.5%) |
| Sat 17 Oct | $4,165 | 277.02 | Rs432,671 | Rs439,036 | Rs6,365 (1.5%) |
| Fri 16 Oct | $4,181 | 277.02 | Rs434,333 | Rs440,636 | Rs6,303 (1.5%) |
| Thu 15 Oct | $4,153 | 277.02 | Rs431,424 | Rs437,836 | Rs6,412 (1.5%) |
| Wed 14 Oct | $4,153 | 277.02 | Rs431,424 | Rs437,836 | Rs6,412 (1.5%) |
| Tue 13 Oct | $4,183 | 277.02 | Rs434,540 | Rs440,836 | Rs6,296 (1.4%) |
| Mon 12 Oct | $4,177 | 277.02 | Rs433,917 | Rs439,936 | Rs6,019 (1.4%) |
| Sat 10 Oct | $4,195 | 277.02 | Rs435,787 | Rs442,036 | Rs6,249 (1.4%) |
Over these ten announcements the premium averaged Rs6,347 per tola, ranging from Rs6,019 to Rs6,540. A premium well above this range usually means the dollar is scarce or imports are restricted; a premium near zero means demand in Pakistan is weak.
How the Sarafa Bazar Gold Rate Is Set and Announced
- World price: the association starts from the international gold price in US dollars per troy ounce.
- Dollar rate: the price is converted into rupees. In 2023 the association said the agreed national rate would be fixed on the basis of the interbank dollar rate.
- Conversion to tola: one troy ounce is 31.1035 grams and one tola is 11.6638 grams, so the ounce price is multiplied by 0.375.
- Local premium: a premium (or discount) is added to reflect import costs and local demand.
- Announcement: the 24K per tola, 24K per 10 grams and silver rates are released from Karachi and adopted by Sarafa bazars in Lahore, Islamabad, Peshawar, Quetta and other cities.
When the Rate Is Announced
The rate is normally issued once each working day, Monday to Saturday, during market hours, and occasionally revised when the world price moves sharply. Because it follows the world market, the Saturday rate often carries the move from Friday’s international session.
Days With No Sarafa Rate
- Sundays and major public holidays: no new rate is issued, so the last announced rate stays in force.
- Suspensions: in September 2023 the association stopped issuing rates for almost a month during a crackdown on smugglers and speculators, and in October 2023 it suspended them for a week after traders in Lahore and Peshawar quoted above the agreed national rate.
Source: Dawn, October 2023. On these days our daily gold rate updates show the latest valid announcement.
Major Sarafa Bazars in Pakistan
Every large city has a traditional Sarafa (bullion and jewellery) market. All of them start from the same Karachi rate; the differences you see between cities come from making charges, competition and local demand, not from a different bullion price.
| City | Main Sarafa market | City gold rate page |
|---|---|---|
| Karachi | Sarafa Bazaar, old city near Jodia Bazaar | Gold rate in Karachi |
| Lahore | Sooha Bazaar, Walled City | Gold rate in Lahore |
| Rawalpindi | Sarafa Bazaar near Raja Bazaar | Gold rate in Rawalpindi |
| Islamabad | Jinnah Super, Aabpara and sector markets | Gold rate in Islamabad |
| Peshawar | Andar Shehr Bazaar | Gold rate in Peshawar |
| Quetta | Liaquat and Kandahari Bazaar | Gold rate in Quetta |
| Multan | Hussain Agahi Bazaar | Gold rate in Multan |
| Hyderabad | Shahi Bazaar and Resham Gali | Gold rate in Hyderabad |
| Faisalabad | Kachehri and Rail Bazaar (Clock Tower) | Gold rate in Faisalabad |
| Gujranwala | Old city Sarafa market | Gold rate in Gujranwala |
| Sialkot | Old city Sarafa market | Gold rate in Sialkot |
Smaller towns are listed on our gold rate in other cities page.
Buying and Selling at the Sarafa Bazar
| You are… | Rate you should expect | Watch out for |
|---|---|---|
| Buying a 24K bar or coin | Close to the Sarafa 24K rate, plus a small dealer premium | Bars without an assay certificate or a known refiner’s stamp |
| Buying 22K or 21K jewellery | The karat rate + making charges | Making charges hidden inside a single “all-in” price |
| Selling a 24K bar | Slightly below the Sarafa rate (the dealer’s buy-back margin) | Dealers who test and quote without telling you the measured purity |
| Selling or exchanging jewellery | The karat rate minus kat (alloy and solder deduction) | Deductions much higher than the norm; see what kat is |
Making charges are never refunded when you sell, which is why gold bought as jewellery usually returns less than gold bought as a bar. If you are buying mainly as savings, compare the bar price on our gold bar price page first.
How to Check a Sarafa Bazar Quote in One Minute
- Note today’s Sarafa 24K rate: Rs434,536 per tola.
- Multiply by the karat ÷ 24 (for 22K, × 0.9167; for 21K, × 0.875; for 18K, × 0.75).
- Multiply by the weight in tola (grams ÷ 11.6638).
- Add the making charges the jeweller quotes, in rupees, and compare with the bill.
- Ask for the karat and weight to be written on the receipt so the buy-back is calculated the same way.
Example: 5 grams of 22K at today’s rate = Rs398,325 × 5 ÷ 11.6638 = Rs170,752 before making charges.
Sarafa Bazar Gold Rate: Frequently Asked Questions
What is the Sarafa Bazar gold rate today?
The Sarafa Bazar gold rate today is Rs434,536 per tola for 24K gold and Rs372,544 per 10 grams, announced on 21 October 2026.
Who announces the Sarafa gold rate in Pakistan?
The All-Pakistan Sarafa Gems and Jewellers Association (APGJSA), based in Karachi, announces the 24K gold and silver rates that bazars across the country follow.
Is the open market gold rate different from the Sarafa rate?
For pure gold bars it is almost the same. For jewellery the open market price is higher because jewellers add making charges, and when you sell they deduct kat.
Why is the Sarafa rate higher than the international gold price?
Because it includes a local premium for import costs and demand. On 21 October 2026 the premium was about Rs6,540 per tola.
Is the gold rate the same in every Sarafa Bazar?
The bullion rate is the same nationwide. Shop prices differ slightly between cities and jewellers because of making charges and competition.
Is there a Sarafa rate on Sunday?
No. The association does not issue a rate on Sundays, so Saturday’s rate remains the latest valid rate until Monday.
Related Gold Rates and Tools
Rates are for information only and exclude making charges, kat and dealer premiums. Not investment advice. See our disclaimer and methodology. Official daily rate source: All-Pakistan Sarafa Gems and Jewellers Association rates (Business Recorder).