By Bilal Ahmed  |  12 November 2026

Gold Price in Pakistan Falls Rs10,900 to Rs416,536 per Tola on 12 November 2026

The price of 24-karat gold in Pakistan fell by Rs10,900 per tola to Rs416,536 on Thursday, 12 November 2026, according to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA). It is the third consecutive day of decline, and the sharpest single-day fall of the week. Ten grams of 24-karat gold dropped by Rs9,345 to Rs357,112, while silver also moved lower.

Gold has now lost Rs15,800 per tola in just three trading days, falling from Rs432,336 on 9 November. For buyers, that is real relief after weeks of record-high prices; for jewellers and investors, a reminder of how quickly the market turns when international gold slides.

Today’s Gold Rates in Pakistan

Thursday’s APGJSA rates show declines across every category. The 24-karat rate — the benchmark most buyers and jewellers quote — fell the most in rupee terms, but 22-karat gold and silver dropped too.

The 22-karat per-tola figure of approximately Rs381,925 is calculated from the official 10-gram rate. It matters most to ordinary buyers, because most jewellery sold in Pakistan — bangles, sets, rings and chains — is made in 22-karat gold rather than pure 24-karat.

These are the association’s benchmark rates. Prices in local sarafa markets in Karachi, Lahore, Islamabad and Rawalpindi can differ slightly, and jewellers add making charges on top of the gold rate. A separate live-market benchmark in Rawalpindi was quoted lower, at around Rs414,478 per tola, but it uses a different methodology and is not the same figure.

Third Straight Day of Falls: Rs15,800 Gone in Three Days

Today’s drop is the third in a row, and by far the biggest of the three. Gold had already slipped on Tuesday and Wednesday, but Thursday’s Rs10,900 fall is more than three times the size of Wednesday’s decline.

The turn has been swift. On Monday, gold was still rising — up Rs3,200 to Rs432,336. Then came three falls in a row: Rs1,500 on Tuesday, Rs3,400 on Wednesday, and Rs10,900 on Thursday. Gold had already fallen by Rs1,500 to Rs430,836 per tola on 10 November; what looked like a small correction then has now become a proper pullback.

Over a longer window the cooling is even clearer: gold is down Rs24,300 per tola over the past month, down Rs8,300 since the start of the financial year, and down Rs40,426 since the start of the calendar year. Silver has followed the same path, down Rs954 per tola over the past month. Thursday was simply the day the fall accelerated.

Why Gold Prices Fell: The International Market Led the Way

Pakistani gold prices almost always follow the international market, and Thursday was no exception. In the global market, gold fell by US$109 to US$3,940 per ounce, slipping below the psychologically important US$4,000 level. The previous international rate was US$4,049 per ounce.

Two forces pushed international gold down. First, the US dollar strengthened, making gold more expensive for buyers using other currencies. Second, traders increased their bets that the US Federal Reserve could raise interest rates — bad news for gold, which pays no interest, so money moves into dollar assets when rate-hike expectations rise.

The rupee-dollar rate matters too, because international gold is priced in dollars and converted into rupees. A stronger dollar pushes local gold up even when the world price is flat. Pakistan’s remittances reached US$3.9 billion in October 2026, a flow of dollars that supports the external position and, indirectly, the rupee.

What This Means for Buyers and Sellers

For families planning weddings, Thursday’s fall is genuinely good news. Gold jewellery is one of the biggest single expenses in a Pakistani wedding, and a Rs10,900 drop per tola can save tens of thousands of rupees on a full set — five tolas of 22-karat jewellery now costs roughly Rs50,000 less than at Monday’s rates, before making charges.

Buyers should still take care: confirm the day’s APGJSA rate and check it with more than one jeweller. The quoted rate covers the gold itself; making charges vary by design and shop, are added separately, and can be negotiated. Always get a receipt showing the weight, karat and rate applied — your protection if you ever sell the piece back.

For sellers and investors, the picture is more mixed. Anyone who bought at the recent highs is sitting on a paper loss, and jewellers holding large stocks will feel the squeeze. But gold has a long history of sharp corrections followed by recovery, and a three-day fall does not by itself signal a long-term trend change. For small investors, the rule is unchanged: do not panic-sell into a falling market, and do not buy the dip with money you cannot afford to leave invested.

Household budgets are under pressure from several directions: Sui gas companies have sought higher prescribed gas prices, and petrol and diesel prices were also revised on 12 November. Against that backdrop, falling gold is one of the few pieces of relief this week — it affects savings, wedding planning and the value of gold already held at home.

What to Watch Next

Friday’s APGJSA rate will show whether Thursday’s fall was a one-day event or a deeper correction. Three things will decide it: the international gold price, the dollar, and the Federal Reserve’s signals. If world gold holds below US$4,000 an ounce, local prices stay under pressure; if it climbs back above that level, some of the fall could reverse quickly.

Silver deserves attention too: it fell Rs190 per tola to Rs5,578, and silver often moves more sharply than gold in both directions. For now, the message is clear — after weeks of gains, gold is correcting, and Thursday’s Rs10,900 fall is the biggest step in that correction so far.

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