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How we calculate the gold rate

Every figure on this site comes out of one formula, applied to named public sources. On 9 August 2026 the 24K benchmark is Rs 459,400 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.

How the rate is determined

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.

LBMA spot
$4,343.30 / oz
London Bullion Market Association
USD/PKR open market
280.54
Used in the formula — remittance and travel users transact here
USD/PKR interbank
277.76
State Bank of Pakistan — shown for reference, a different number
Local premium
Rs 2,500 / tola
Karachi Sarafa market premium over converted spot

Today that works out to (4,343.30 × 280.54 × 11.6638 / 31.1035) + 2,500 = Rs 459,426, posted on the board as Rs 459,400 — sarafa boards quote in round hundreds.

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. Interbank USD/PKR is currently 277.76 against an open market rate of 280.54.

Data integrity rules

  • No invented city prices. City pages never apply a percentage to the benchmark to manufacture a local figure. Where no verified local quote exists we show the benchmark and state the typical spread as a range.
  • No false precision. Board prices are rounded to the nearest hundred rupees, as the Sarafa board posts them.
  • Derived figures are labelled. Karat prices are purity conversions of the 24K benchmark and are described as such wherever they appear.
  • Placeholder data is never silent. If any displayed rate is still seeded test data, a sitewide banner says so on every page until it is replaced.
  • Timestamps are real. The board capture time drives the on-page timestamp and the schema dateModified. Neither is the build time.

Frequently asked questions

How is the Pakistani gold rate calculated?

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.

How are 22K, 21K and 18K derived?

By purity factor from the 24K benchmark: 22K × 0.9167, 21K × 0.875, 18K × 0.75. These are purity ratios, not market spreads.

Why do you round to the nearest hundred?

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.

Why don't you publish a different price for every city?

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.

Which USD/PKR rate do you use?

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.

How often does the rate update?

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.