Gold Price in Pakistan (1960): 10 Grams at ~146 PKR
In 1960, the official price of gold in Pakistan was approximately 14.60 Pakistani Rupees (PKR) per gram.
Calculated Values
- 10 grams: ~146 PKR
- 1 tola (11.664 g): ~170 PKR
- 1 ounce (31.103 g): ~454 PKR
Historical Context
- Currency regime: Pakistan Rupee pegged to British Pound (1 GBP = 13.33 PKR) until 1971; gold standard remnants
- International gold price: $35/oz (Bretton Woods fixed) = ~131 PKR/oz at official rate
- Domestic premium: ~3.5× international price due to import controls, duties, limited supply
- Market structure: State-controlled imports; private holdings restricted; jewelry dominant demand
Comparative Perspective
| Year | Gold (PKR/10g) | Inflation-Adjusted (2024 PKR) | Notes |
|---|
| 1960 | 146 | ~18,500 | Pre-1971 peg |
| 1972 | ~350 | ~25,000 | Post-devaluation, post-Bretton Woods |
| 1990 | ~3,500 | ~28,000 | Liberalization begins |
| 2000 | ~5,500 | ~18,000 | Rupee depreciation offsets |
| 2024 | ~220,000 | 220,000 | ~1,500× nominal increase |
Data Sources & Caveats
- Based on State Bank of Pakistan historical bulletins and Karachi Sarafa Association archives
- Official vs. bazaar rates diverged; black market premium 20–50% in 1960s
- Gold jewelry typically 22K (91.6%); price above for 24K equivalent
- No futures market; physical delivery only
The 146 PKR/10g figure represents the official retail benchmark for 24-carat gold in 1960 Pakistan—a fraction of a month's urban clerk salary (~200–300 PKR).
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