Pakistan · PKR · Tuesday, May 16, 2023
Gold Price in Pakistan — May 16, 2023
On May 16, 2023, gold in Pakistan closed at approximately Rs567,893 per troy ounce — about Rs212,963 per tola or Rs18,258 per gram. The figure is computed from the verified international XAU/USD spot price ($2,007.50/oz) × the day's PKR/USD exchange rate.
PKR / Troy Ounce
Rs567,893
31.1035 g
PKR / Gram
Rs18,258
1 g
PKR / Tola
Rs212,963
11.664 g
All unit prices on May 16, 2023 — Pakistan
| Unit | Weight | PKR price |
|---|---|---|
| Troy ounce | 31.1035 g | Rs567,893 |
| Gram | 1.0000 g | Rs18,258 |
| 10 grams | 10 g | Rs182,582 |
| Kilogram | 1,000 g | Rs18,258,168 |
| Tola | 11.664 g | Rs212,963 |
Karat-purity breakdown — May 16, 2023
| Karat | Per gram | Per 10g | Per tola |
|---|---|---|---|
| 24KPAKISTAN STD | Rs18,240 | Rs182,399 | Rs212,750 |
| 22K | Rs16,724 | Rs167,245 | Rs195,074 |
| 21K | Rs15,976 | Rs159,759 | Rs186,343 |
| 18K | Rs13,694 | Rs136,936 | Rs159,722 |
| 14K | Rs10,681 | Rs106,810 | Rs124,584 |
| 10K | Rs7,614 | Rs76,137 | Rs88,806 |
Surrounding ±15 trading days — PKR
Price action on May 16, 2023
1-day move
vs prior session
7-day move
rolling week
30-day move
rolling month
YTD
since 1 Jan 2023
Calendar position
Day 136 of 365
Trading day
118th of 311
Position in 2023's range
58% (low $1,811.00 → high $2,148.99)
The Pakistan gold market
Pakistan's retail gold trade is dominated by the All Pakistan Sarafa Gemmi & Jewellery Association (APSGJA). The standard quoted unit is the tola (11.664 g) and 24-karat purity. Local prices typically sit a few percent above international spot due to import duties, sales tax (currently 17%), and dealer making charges (3–8%). The State Bank of Pakistan periodically auctions gold reserves which can cause short-term price action divergent from international spot.
Standard quote unit
tola
Common purity
24K
Currency
PKR (Rs)
May 16 in other years — Pakistan
May 16, 2023 gold price in other countries
How this May 16, 2023 Pakistan price is calculated
International benchmark. The XAU/USD spot price for May 16, 2023 comes from gold-api.com's historical archive — the London PM-fix benchmark, which is the reference used by central banks and bullion dealers globally. On this date, that price was $2,007.50/oz.
Currency conversion. The PKR/USD exchange rate for the same date comes from exchangerate-api.com. We apply that day's exact rate (282.8856) to the USD price — not a year-average or month-end approximation. This makes the Rs figure on this page accurate to the trading session.
Per-unit math. Per-gram = per-ounce ÷ 31.1035. Per-tola = per-gram × 11.664. Per-10g = per-gram × 10. Per-kilo = per-gram × 1000. Karat values multiply per-gram by the purity ratio (24K = 0.999, 22K = 0.916, 21K = 0.875, 18K = 0.750, 14K = 0.585, 10K = 0.417). We never compound rounding errors by going through intermediate units.
What this page does NOT include. Local sales tax / VAT, customs duty on imports, dealer making charges, jewellery design premiums, or coin numismatic premiums. To go from this pure-metal value to a final retail rate in Pakistan, add the country-specific levies described in the “Pakistan gold market” section above. The retail rate at a jeweller in Pakistan on May 16, 2023 would have been a few percent above this number once those costs are included.
FAQ — Pakistan gold price on May 16, 2023
What was the gold price in Pakistan on May 16, 2023?
On May 16, 2023 (Tuesday), gold in Pakistan traded at approximately Rs567,893 per troy ounce. That works out to about Rs18,258 per gram, Rs212,963 per tola, and Rs182,582 per 10 grams. The figure is derived from international XAU/USD spot of $2,007.50/oz × the day's PKR/USD exchange rate of 282.8856.
What was the 24K gold rate per tola in Pakistan on May 16, 2023?
The 24K gold rate per tola in Pakistan on May 16, 2023 was approximately Rs212,750 (99.9% pure metal value). This excludes local taxes, dealer making charges and any country-specific levies — those add on top to produce the final retail rate.
What was the 24K gold rate in Pakistan on May 16, 2023?
Pakistan's most-quoted retail standard is 24K per tola. On May 16, 2023, that pure-metal value was approximately Rs212,750. Add country-specific taxes and making charges (see the market-context section above) for the final retail rate.
How accurate is this number versus what jewellers were quoting?
The Rs figure on this page is the verified international XAU/USD spot price for May 16, 2023 multiplied by the day's exchange rate. It represents the pure metal value at international parity — what a London-fix benchmark would have implied. Local jewellers add (1) import duties + sales tax / VAT, (2) dealer making charges (typically 3–12% of metal value), and (3) any premium for purity certification. Final retail rates in Pakistan typically sit a few percent above this number.
Was May 16, 2023 a trading day?
Yes — May 16, 2023 was the 118th trading session of 311 for 2023 on the international gold market. Tuesdays are typically active trading days unless they fall on a major holiday.
Want today's rate in Pakistan? See live gold prices in Pakistan with minute-by-minute updates and full karat breakdowns. To compare this archive figure against the live rate, that's where to go.
Different unit on this same date? The USD-only daily archive for May 16, 2023 includes per-day prices in 100+ other currencies and is the canonical reference page for this date.
Browse the archive. Step through every day of May 2023 in Pakistan, see the full 2023 archive, or use our tola, gram and karat calculators for live calculations against today's rate.
Disclaimer: Historical gold prices on this page reflect the international XAU/USD spot price for the requested date, converted to PKR at the same day's exchange rate. They are intended for informational and educational use only and do not constitute investment advice or a price quote for buying or selling physical gold today. Always verify current local rates with a reputable bullion dealer in Pakistan before transacting.