The gold price in Pakistan rose by Rs9,600 a tola on Thursday to Rs435,636, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). It was the second big gain in a row: on Wednesday the price had already jumped Rs13,900. Together, the two days added Rs23,500 a tola, almost entirely because world gold moved higher. For jewellers, wedding buyers and households that save in gold, the question is how long the rally lasts.
The short version
- 24-karat gold is Rs435,636 a tola and Rs373,487 per 10 grams, up Rs9,600 and Rs8,230 on the day.
- The two-day gain is Rs23,500 a tola, after a Rs13,900 rise on Wednesday.
- World gold rose $96 to $4,131 an ounce, up from $4,035 in the previous session.
- Silver rose Rs100 to Rs5,763 a tola.
What happened
Business Recorder reported that the gold price per tola “increased on Thursday in line with their gain in the international market”. On Wednesday the price reached Rs426,036 after gaining Rs13,900 during the day. Thursday’s rise took it to Rs435,636. The 10-gram price of 24-karat gold rose Rs8,230 to Rs373,487, and 22-karat gold rose Rs7,544 to Rs342,375 per 10 grams, Samaa TV reported.
The move comes less than a week after the price fell. On 31 October, Knock-On reported that the gold price in Pakistan fell Rs5,100 a tola to Rs420,536 as world gold slipped below $4,000 an ounce. World gold is now back above $4,100.
Two days of gains wiped out last week’s fall several times over
Daily change in the 24-karat gold price, rupees per tola, Pakistan
Why it matters
Gold in Pakistan is priced off the world market, so local buyers have little control over the bill. Pakistan Observer linked the latest international rally to the US midterm election results, which it described as a setback for Republicans. The same results also pushed oil sharply lower this week, as Knock-On reported in how the US midterms reached Pakistan through oil. For Pakistani households, cheaper fuel and dearer gold now arrive together.
The knock-on effects
First order: a dearer gold price in Pakistan hits jewellery buyers
A Rs23,500 rise in two days makes jewellery noticeably more expensive. Families buying for weddings may cut the weight they buy or wait for a dip, which can slow sales for jewellers.
Second order: savers feel richer, on paper
Many households hold gold as savings. A higher price raises the value of that stock and can support borrowing against gold. With CPI inflation at 9.6% in October, gold remains a popular hedge.
Third order: money competing with the stock market
Gold is rising at the same time as the PSX: the KSE-100 closed at 175,380 today. Both are drawing savings that might otherwise sit in bank deposits.
Who could benefit
- Households holding gold: the value of their savings has risen.
- Gold-backed lenders: collateral is worth more per tola.
- Sellers of old gold: they get more rupees for the same weight.
Who may face pressure
- Wedding-season buyers: the same set of jewellery costs more.
- Jewellers: sharp swings can slow new sales and make stock harder to price.
- Silver users: silver also rose, to Rs5,763 a tola.
What to watch
- Whether world gold holds above $4,100 an ounce in the next sessions.
- The final US midterm results and their effect on the dollar.
- APGJSA’s daily rates on Friday 6 November.
Sources
- Business Recorder, Gold price per tola jumps Rs9,600 in Pakistan, 5 November 2026
- Aaj News, Gold prices climb in line with global rate, 5 November 2026
- Pakistan Observer, Gold Prices in Pakistan jump by Rs23,500 in 2 Days to hit Rs4.35 Lac Per Tola, 5 November 2026
- Samaa TV, Gold price in Pakistan sees another massive hike: Nov 5, 2026, 5 November 2026
This is analysis, not investment advice. Figures are as of 5 November 2026.
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