Breaking: Gold Surges to New High — March 2026
Pakistan’s gold market opened Monday with a dramatic surge. In the local market, the price of gold per tola went up by Rs. 13,300, reaching Rs. 563,862. The price of 10 grams of gold also increased by Rs. 11,402, bringing the new rate to Rs. 483,420, according to the All-Pakistan Gems and Jewellers Sarafa Association.
Just two days earlier, on Saturday, gold prices had already gone up by Rs. 10,000 per tola, closing at Rs. 550,562 — showing that gold has become significantly more expensive in a very short period of time.
Internationally, gold prices recorded a sharp rise alongside the local surge, with the global rate increasing by $133 per ounce and reaching $5,411, inclusive of premium.
Today’s Complete Gold Rate Table — March 2026
The table below reflects the Gold Price in Pakistan Today 2026 rates as announced by the Karachi and All-Pakistan Sarafa Associations on March 2026.
| Purity | Per Tola (PKR) | Per 10 Grams (PKR) | Per Gram (PKR) | Per Ounce (PKR) |
|---|---|---|---|---|
| 24K (Pure Gold) | Rs. 563,862 | Rs. 483,420 | Rs. 48,342 | Rs. 1,368,940 |
| 22K (Jewellery) | Rs. 517,207 | Rs. 443,135 | Rs. 44,318 | Rs. 1,255,490 |
| 21K | Rs. 493,879 | Rs. 423,243 | Rs. 42,325 | Rs. 1,198,260 |
| 18K | Rs. 422,897 | Rs. 362,565 | Rs. 36,260 | Rs. 1,026,706 |
Source: All-Pakistan Gems & Jewellers Sarafa Association (APGJSA), 2 March 2026
City-Wise Gold Rate — 2 March 2026
The gold rate in Pakistan is determined by the Karachi Sarafa Bazar Association following fluctuations in international gold prices. Other cities adopt this benchmark rate daily, with only minor regional variations.
| City | 24K Per Tola (PKR) | Variation vs Karachi |
|---|---|---|
| Karachi | Rs. 563,862 | Base rate |
| Lahore | Rs. 564,062 | +Rs. 200 |
| Islamabad | Rs. 564,162 | +Rs. 300 |
| Rawalpindi | Rs. 564,162 | +Rs. 300 |
| Peshawar | Rs. 564,262 | +Rs. 400 |
| Quetta | Rs. 564,462 | +Rs. 600 |
Reasons for city-to-city price variation include local demand and supply dynamics, transport and security costs, making charges set by individual jewellers, and local taxes or fees in certain areas.
30-Day Price History — February to March 2026
The last four weeks have seen some of the most dramatic gold price movement in Pakistan’s recent history. Here is a week-by-week snapshot:
| Date | 24K Per Tola (PKR) | Weekly Change |
|---|---|---|
| 2 Feb 2026 | Rs. 492,000 | — |
| 9 Feb 2026 | Rs. 523,500 | +Rs. 31,500 (+6.4%) |
| 17 Feb 2026 | Rs. 523,762 | Stable |
| 21 Feb 2026 | Rs. 511,500 | -Rs. 12,262 (slight dip) |
| 28 Feb 2026 | Rs. 527,000 | Recovery |
| 1 Mar 2026 | Rs. 550,562 | +Rs. 10,000 (+1.9%) |
| 2 Mar 2026 | Rs. 563,862 | +Rs. 13,300 (+2.4%) |
On 21 February 2026, the highest recorded per-tola price up to that point had been Rs. 523,500, recorded on 9 February 2026, before a brief mid-month dip and subsequent recovery. The market has now surpassed all previous records as of today.
International Gold Price & Its Impact on Pakistan
Internationally, gold reached $5,411 per ounce on 2 March 2026, including a $20 premium, representing a sharp single-day rise of $133.
Gold price forecasts for March 2026 projected the international price beginning the month at $5,296, with a high of $6,234 and a low of $5,078 possible within the month, and an average of approximately $5,517.
Pakistan’s local gold prices are essentially a direct conversion of this international price into Pakistani rupees. With the USD/PKR exchange rate currently hovering around PKR 278–282, every $1 rise in global gold adds approximately Rs. 900–950 to the per-tola price in Pakistan. This is why today’s Rs. 13,300 local surge closely mirrors the $133 rise seen in the international market.
Why Is Gold So Expensive in Pakistan in 2026?
Several powerful converging forces are behind this historic gold price surge:
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1. Record International Bullion Prices
The international spot price has crossed a historic high near $5,000–$5,400 per ounce, sending a ripple effect through local markets and pushing Pakistan’s per-tola price to new records.
2. Pakistani Rupee Pressure
Currency pressure is weakening the PKR, raising the landed cost of imported gold. Global market strength is pushing international gold benchmarks higher, and these macroeconomic drivers are keeping Pakistan’s gold prices elevated and trending upward.
3. Safe-Haven Demand
Persistent geopolitical tensions, slowing global growth, and elevated inflation continue to push investors toward gold as a stable store of value. The gold rate reflects this ongoing uncertainty, as traders closely track interest rate signals, inflation data, and central bank decisions.
4. Federal Reserve Policy
With the U.S. dollar showing renewed weakness and global markets facing volatility, gold maintains a strong upward trend, reinforcing its position as a trusted hedge against economic instability and currency depreciation. Expectations of rate cuts by the U.S. Federal Reserve further strengthen gold’s appeal as non-yielding assets become more competitive.
5. Central Bank Gold Buying
Major central banks worldwide — including those in China, India, and Turkey — have been aggressively expanding their gold reserves throughout 2025 and into 2026, creating additional demand pressure on global supply.
6. Seasonal Wedding Demand
Pakistan’s spring wedding season (February to April) is traditionally the peak period for gold jewellery purchases. Bridal gold sets, which typically involve several tolas of 22K gold, see the highest demand during this period, adding local demand-side pressure.
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Gold Purity Guide: Which Karat Is Right for You?
Understanding gold purity is essential before making any purchase in Pakistan.
24K gold is pure gold at 99.9% purity. 22K contains 91.6% pure gold. 21K contains around 87.5% gold. Making charges for jewellery typically range between 15–20%, applied on top of the base gold price. GST at 18% applies on making charges only. Withholding tax of 2% applies if you are a non-filer. Capital gains tax is applicable on profit if gold is sold within 4 years.
Practical buying guide by purity:
| Karat | Purity | Best Used For | Notes |
|---|---|---|---|
| 24K | 99.9% | Bars, coins, investment | Softest; not ideal for daily jewellery |
| 22K | 91.6% | Bridal & fine jewellery | Most popular in Pakistan |
| 21K | 87.5% | Jewellery | Good balance of purity and durability |
| 18K | 75% | Fashion jewellery | Most affordable; widely used in lighter designs |
How to Verify Gold Authenticity in Pakistan
With prices at historic highs, the risk of purchasing substandard or fake gold increases. Here is how to protect yourself:
You can check gold authenticity through the following methods: first, look for a hallmark on your jewellery — in Pakistan, genuine gold often has a stamp like 24K, 22K, or 21K, and if there is no hallmark, be cautious. Second, pure gold is non-magnetic; bringing a strong magnet near the gold item will reveal fake or heavily mixed pieces if they stick. Gold.pk
Always look for the official 999 (for 24K) or 916 (for 22K) stamp on gold bars or jewellery, check the State Bank of Pakistan’s currency status to track rupee movement, ensure the electronic scale in the jewellery shop is properly zeroed before weighing your item, and never buy gold without a formal receipt that mentions the weight, purity, and the day’s official Sarafa rate.
You should also verify purity through hallmark stamps such as 999 or 916, ask for a proper bill and receipt, compare prices across multiple jewellery shops, and fully understand making charges before agreeing to any price.
Gold Price Forecast for the Rest of 2026
According to expert forecasts, the price of 24K gold in Pakistan may reach between Rs. 570,000 to Rs. 600,000 per tola depending on inflation and the PKR/USD exchange rate. Goldman Sachs has forecast a price of $5,500 per ounce by end of 2026. Bloomberg Commodity Outlook predicts a bullish trend in gold due to global recessionary risks. Pakistan-based analysts estimate that if the PKR weakens further, 24K gold could exceed even Rs. 600,000 per tola.
Looking further ahead, international gold price forecasts project prices reaching approximately $6,345 per ounce by the end of June 2026, and further escalating through the second half of the year.
Experts suggest that in early to mid-2026, gold could enter another bullish cycle driven by increased safe-haven demand, geopolitical tensions, and weakening global currencies. Many forecasts indicate that if current economic conditions persist, gold prices in Pakistan may surpass all previous records.
Where to Buy Gold in Pakistan — Top Sarafa Markets
Pakistan has well-established, trusted gold markets in every major city:
Karachi (Hub of Gold Trade)
- Sarafa Bazaar, Jodia Bazaar — the primary wholesale and retail bullion market
- Tariq Road & Saddar — popular retail locations
Lahore
- Anarkali Bazaar — historic and highly active jewellery market
- Shah Alam Market & Liberty Market
Islamabad / Rawalpindi
- Sarafa Bazaar near Urdu Bazaar, Rawalpindi
- Blue Area jewellery shops, Islamabad
Peshawar
- Qissa Khwani Bazaar Sarafa Market — one of the oldest in the country
Quetta
- Liaquat Bazaar gold market
Karachi typically offers the highest trading prices due to large bullion exchanges. Lahore has slightly lower premiums but strong market demand. Islamabad provides balanced pricing for both trading and retail buyers. Peshawar and Quetta carry slight premiums due to local demand conditions.
Smart Tips for Buying Gold in Pakistan in 2026
- Check the Sarafa rate every morning — the Karachi Sarafa Association typically announces rates between 10–11 AM and may revise during the day based on international movement.
- Understand total cost — the quoted gold rate does NOT include making charges (15–20%), GST on making charges (18%), or withholding tax (2% for non-filers).
- Prefer gold bars or coins for investment — these carry minimal making charges compared to jewellery.
- Always get a hallmark receipt — it must include the exact weight, purity (karat/hallmark number), the day’s official Sarafa rate, and making charges itemised separately.
- Track USD/PKR exchange rate — when the rupee strengthens, a local dip typically follows within 24–48 hours.
- Monitor international gold price — use apps like gold.pk, Kitco, or Bloomberg Commodities to track the global price in real time.
- Avoid social media rate claims — only trust Karachi Sarafa Association announcements or verified portals like UrduPoint, gold.pk, and Profit by Pakistan Today.
Silver Rate in Pakistan — March 2026
Silver prices in Pakistan followed the same bullish trend as gold on 2 March 2026, rising in tandem with international precious metals.
The silver rate currently stands at approximately Rs. 9,600–9,800 per tola for 999 purity silver, making it a more accessible entry point for investors who want exposure to precious metals without committing to gold’s now-considerable per-tola cost.
Final Word
Gold prices in Pakistan have entered historic territory in 2026, with the per-tola rate crossing Rs. 563,000 for the first time ever. Whether you are purchasing gold for a wedding, as a long-term investment, or as a hedge against Pakistan’s persistent inflation, staying informed about daily rates is not optional — it is essential. Bookmark trusted sources like gold.pk and UrduPoint, verify hallmark stamps, always get a proper receipt, and track both the international spot price and USD/PKR exchange rate before walking into any Sarafa market.
