Tola in gold trading
A tola is a traditional South Asian gold weight of 11.6638 grams (0.375 troy ounces), still used for pricing and bars in India, Pakistan, Nepal and the Gulf.
Also called Tola gold, Tola bar, Vori / bhori
A tola is a unit of weight from the Indian subcontinent, standardized under British rule at 180 grains, which is 11.6638 grams or exactly 0.375 troy ounces. It survives as the everyday gold unit in Pakistan, Nepal and parts of the Gulf, and in the “ten tola bar” (116.64 grams), a size widely traded in Dubai and historically smuggled into India. In Bangladesh the near-identical bhori or vori is used. India now quotes officially per 10 grams, though “tola” is still heard in shops.
How it applies to gold trading
Converting between the tola and the traded price is simple once the ratio is known: one troy ounce is 2.6667 tolas, so the price per tola is the ounce price multiplied by 0.375. At $4,000 per ounce, one tola of fine gold is $1,500. Local tola prices in Pakistani rupees or UAE dirhams then add the exchange rate, any import duty or VAT, and the dealer’s premium, which is why they do not match the conversion exactly.
Traders following South Asian demand, which is one of the largest sources of physical buying, meet the tola in news reports and dealer quotes constantly.
A common mistake
Treating a tola as “about 10 grams”. The 16.6% difference between 10 grams and 11.6638 grams makes tola prices look expensive when compared with 10-gram quotes.
See also: Gram and 10-gram pricing, Troy ounce, Import duty, Karat.
Frequently asked questions
How many grams are in a tola?
11.6638 grams, which is exactly three eighths of a troy ounce. A ten-tola bar is 116.64 grams.
How do I convert the gold price to a per-tola price?
Multiply the price per troy ounce by 0.375. At $4,000 per ounce, one tola of fine gold is $1,500 before exchange rates, duties and premiums.