Every figure on this site comes out of one formula, applied to named public sources. On 9 November 2026 the 24K benchmark is Rs 0 per tola. The workings below show exactly how that number is reached, so you can reproduce it yourself rather than take our word for it.
The formula
tola_price_pkr = (lbma_usd_per_oz × usd_pkr × 11.6638 / 31.1035) + local_premium
One tola is 11.6638 grams and one troy ounce is 31.1035 grams, so dividing by 31.1035 and multiplying by 11.6638 converts the international per-ounce dollar price into a per-tola price. The local premium covers import cost, dealer margin and local demand in the Sarafa market, which is why the Pakistani board rate is never exactly the converted spot price.
Lower karats are derived from the 24K benchmark by purity: 22K = ×0.9167, 21K = ×0.875, 18K = ×0.75.
Sources: LBMA prices and data, All Pakistan Sarafa Gems and Jewellers Association, State Bank of Pakistan exchange rates.
The 24K tola rate is (LBMA spot in USD per ounce × USD/PKR × 11.6638 ÷ 31.1035) plus the local premium set in the Karachi Sarafa Bazaar, rounded to the nearest hundred rupees the way the board itself posts it.
By purity factor from the 24K benchmark: 22K × 0.9167, 21K × 0.875, 18K × 0.75. These are purity ratios, not market spreads.
Because that is how the Sarafa board posts. A tola price quoted to two decimal places is a formula output, not a market rate, and the false precision misleads people.
Because a single national benchmark is what the associations actually follow. Rather than apply an invented percentage to each city, we show the Karachi benchmark and state the real local spread as a range.
The State Bank interbank rate for the benchmark calculation, and the open-market rate for overseas conversions, because that is what a remittance recipient is actually credited at. Both are shown.
Continuously through the Pakistani trading day. Each board carries the capture time in PKT and UTC, and schema dateModified reflects that capture time rather than the build time.
