Gold Price Today in Pakistan: Rs425,636/Tola, Up Rs3,500 (28 October 2026)

The gold price today in Pakistan stands at Rs425,636 per tola for 24-karat gold — the latest verified rate for Wednesday, 28 October 2026, up Rs3,500 from Oct 27’s Rs422,136. The 10-gram 24-karat rate is Rs364,914, up Rs3,001. International gold is $4,031 per ounce, up $35, and silver is Rs5,854 per tola, up Rs61. The figures are from the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA).

Market context: the US Federal Reserve held its benchmark rate at 3.75–4% on Oct 28, 2026, by a 10–2 vote, with Governors Lisa Cook and Beth Hammack dissenting in favour of a quarter-point hike, citing elevated inflation. This decision came after Pakistan’s daytime rate announcement, so the next APSGJA figure (Oct 29) will show the market reaction.

Gold rebounded on Oct 28 after the previous session’s rate of Rs422,136 per tola. Here are the verified Oct 28 figures, the rates by purity, and what the Fed decision could mean for your plans.

Key Facts: Gold Price in Pakistan

Gold Rate in Pakistan Today: Rates by Purity

These are the verified Oct 28 figures for 24-karat gold. Boards refresh through the day, so expect small variations at your local jeweller.

The 24K figures above are the association’s Oct 28 session prints. No other purity rates for Oct 28 are stated here.

How the Week Unfolded: Rs10,000 Gone in Two Days

Gold did not crash out of nowhere — but the speed of the last two sessions caught many traders off guard. The week before, 24K gold was sitting at Rs434,000 per tola on 16 October. It held broadly through the weekend, then the slide began.

Thursday’s Rs3,000 fall to Rs431,536 was the warning shot. Friday’s Rs7,000 collapse to Rs424,536 was the real shock — the biggest single-day drop in weeks, and the lowest rate the market has seen in the past month. Over just two trading sessions, gold became Rs10,000 cheaper per tola.

Why Gold Prices Fell This Week

Local gold prices in Pakistan are set by the sarafa association, but the formula behind them is simple: take the international dollar price of gold, convert it at the open-market dollar-rupee rate, and adjust for local premiums. When international gold falls, Pakistan’s tola price almost always follows — and this week, international gold fell hard.

The culprit is the US Federal Reserve. Markets are now pricing roughly an 80–87% chance that the Fed will raise interest rates again in December, after September’s quarter-point hike took the federal funds rate to 3.75%–4.00%. That expectation has strengthened the US dollar, and gold — which is priced in dollars and pays no interest — loses its shine in exactly this environment: a stronger dollar makes it costlier for buyers using other currencies, and higher expected rates make non-yielding assets less attractive.

The economic data is not helping gold bulls either. US weekly jobless claims just fell to a three-month low, signalling a firm American economy that gives the Fed room to keep rates elevated. Meanwhile oil prices are holding near a one-month high on Middle East supply worries, which keeps inflation fears alive and makes rate cuts look even more distant.

The Fed Meeting on 27–28 October: What It Means for Gold

This is the date circled on every trader’s calendar. The Federal Open Market Committee meets on Tuesday and Wednesday, 27–28 October, and announces its rate decision on Wednesday at 2:00pm US Eastern Time — that is 11:00pm Pakistan time on Wednesday night, followed by the Fed chair’s press conference at 11:30pm PKT.

On Oct 28, 2026, the Fed held its benchmark rate at 3.75–4% by a 10–2 vote, with Governors Lisa Cook and Beth Hammack dissenting in favour of a quarter-point hike, citing elevated inflation. This decision came after Pakistan’s daytime rate announcement, so the next APSGJA figure (Oct 29) will show the market reaction.

For Pakistan’s gold market, the practical effect works like this: a hawkish Fed usually means a stronger dollar and weaker gold internationally, which pulls the local tola rate down further; a dovish surprise does the reverse. The rate announcement hits Pakistani screens late Wednesday night — expect the sarafa board’s Thursday morning rates to react.

What Could Happen Next: Three Scenarios

Scenario 1 — The slide continues. If the Fed signals clearly that December is live for another hike and the dollar keeps climbing, international gold could test lower levels and Pakistan’s tola rate may slip lower. This is the momentum scenario.

Scenario 2 — A relief bounce. If the Fed chair strikes a cautious tone on Wednesday night, or if geopolitical tensions flare, international gold could rebound and the local rate could recover quickly. Gold has a habit of snapping back hard after sharp falls.

Scenario 3 — Choppy sideways. The most likely near-term outcome is actually volatility without direction: gold swinging Rs2,000–3,000 per tola day to day as traders reposition around each data release. For most buyers, this is the hardest environment — it rewards patience and punishes panic.

Should You Buy Gold Now?

Honest answer: nobody knows the bottom, and anyone who claims to is guessing. What we can say is that the Oct 28 rate of Rs425,636 per tola is a rebound of Rs3,500 from Oct 27, and wedding-season buyers — the backbone of local gold demand — rarely get a dip this clean. If you were already planning a purchase for a shaadi or family occasion, the recent fall has genuinely saved you money compared with Rs434,000 on 16 October.

A few practical points matter more than timing the market. Always buy from a reputable jeweller and ask for the karat to be stamped; making charges (ujrat) vary widely between shops and can add 10–25% on top of the gold value, so compare at least two quotes. If you are buying as an investment rather than jewellery, gold bars or coins carry far lower making charges than ornate sets — and always keep the receipt.

This is market information, not financial advice. Gold prices are volatile, and a single Fed statement on Wednesday night can move the tola rate by thousands of rupees in either direction. For a sense of how local rates move over time, see our gold price updates and the broader gold rate in Pakistan coverage — and if you follow commodity-linked household costs more generally, our gold rates archive tracks the longer trend.