Gold buyers in Pakistan got a sharp shock on Wednesday. In a single day, the price of 24-karat gold per tola jumped by Rs13,900 — one of the biggest single-day jumps in recent weeks — pushing the yellow metal well past the Rs4.26 lakh mark.
According to the rates issued by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-karat gold per tola settled at Rs426,036 on November 4, 2026, after the day’s surge. The price of 10 grams of 24-karat gold rose by Rs11,917 to Rs365,257. Silver also moved higher, gaining Rs295 per tola to reach Rs5,663. The figures were reported by multiple market outlets on Wednesday, including Bloom Pakistan’s coverage of the Rs4.26 lakh close.
New rates at a glance
The headline number tells the story: a tola of 24-karat gold now costs Rs426,036, up Rs13,900 from the previous session. Ten grams of the same purity are priced at Rs365,257 after a Rs11,917 increase. Silver per tola stands at Rs5,663, up Rs295.
The jump came after Tuesday’s pause at Rs412,136, when the local market took a breather following the volatile sessions of the previous week. APGJSA rates are the industry benchmark for the local bullion market and are set against the international spot price and the interbank exchange rate.
Why gold shot up
The local surge mirrored a sharp rally in the international market, where gold gained $139 an ounce to reach $4,035. When global bullion prices move that aggressively, Pakistan’s market almost always follows — and Wednesday was no exception, with the full force of the international gain reflected in the tola rate within hours.
Market watchers noted that the international rally came as global investors positioned themselves around the outcome of the United States midterm elections, a period that often drives safe-haven demand for gold. Whatever the precise trigger, the transmission to the local market was direct: a $139 international gain translated into a Rs13,900 domestic jump.
A volatile fortnight for bullion
The latest spike caps a dizzying two weeks for gold in Pakistan. On October 31, the market suffered the Rs10,800 crash on October 31 — the sharpest single-day drop of the year — dragging the tola rate down to Rs409,736. Prices steadied after that, and Tuesday brought a quiet session with no change at Rs412,136, raising hopes that the worst of the turbulence was over.
Wednesday’s Rs13,900 surge has now more than recovered the October 31 losses in a single session. For buyers who held off during the crash, the rebound means the metal costs more than it did before the fall — a reminder of how quickly sentiment can flip in the bullion market.
What buyers should keep in mind
For ordinary buyers, the practical takeaway is simple: the APGJSA daily rate is the reference point, but actual shop prices can vary slightly from city to city and jeweller to jeweller, so it pays to check the day’s rate before buying. Making charges and the karat of the ornament also move the final bill well beyond the headline tola figure.
Gold remains one of the most closely watched assets in Pakistan, where it doubles as both jewellery and a household store of value. With international markets still unsettled, jewellers expect the local rate to keep tracking the global trend closely in the coming sessions — Wednesday’s session showed just how fast that tracking can be.
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