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Gold eyes Rs175,000 per tola mark in Pakistan in speedy record-breaking run

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  • Gold price jumps Rs2,200 per tola to settle at Rs174,900.
  • Per tola silver price also surpass Rs2,000 level for the first time.
  • Analyst cites shortage of dollar, global trend as reasons behind price hike.

Gold’s record rally is moving tantalisingly close to the psychologically key Rs175,000 level in Pakistan, powered by investors seeking cover from the political toll, as reflected in rupee weakness, faltering stocks and economic tensions.

According to All Pakistan Sarafa Gems and Jewellers Association, the price of precious commodity jumped by Rs2,200 per tola and Rs1,886 per 10 grams to settle at Rs174,900 and Rs149,948, respectively.

Arif Habib Commodities Managing Director and CEO Ahsan Mehanti identified three reasons which have triggered a record-breaking spree in the local gold market, these include:

  • Unavailability of dollar in Pakistan
  • International phenomenon
  • Difference between interbank and open market exchange rate

The commodities expert explained that due to the unavailability of the greenback and speculation regarding the rupee-dollar parity investors have shifted their focus towards safe-haven assets.

Mehanti further added that the significant difference between exchange rates in interbank and open markets has also added fuel to the rising prices of the yellow metal as it is a common phenomenon that when rates in kerb markets are high gold prices also rise.

The association, however, mentioned that although gold hit an all-time high in Pakistan, its price still stood below cost. Gold is cheaper by Rs4,000 per tola compared to its price in Dubai.

Meanwhile, silver prices also registered gains and rose to an all-time high of Rs2,020 per tola and Rs1,731.82 per 10 grams after an increase of Rs40 and Rs34.29, respectively.

In the international market, gold prices settled at $1,796 after an increase of $3 per ounce.

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In January 2025, RDA inflows reach 9.564 billion USD.

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Remittances under the Roshan Digital Account (RDA) increased from US $9.342 billion at the end of 2024 to US $9.564 billion by the end of January 2025.

The most recent data issued by the State Bank of Pakistan (SBP) revealed that remittance inflows in January totaled US$222 million, compared to US$203 million in December and US$186 million in November 2024.

Millions of Non-Resident Pakistanis (NRPs), including those who own a Non-Resident Pakistan Origin Card (POC), desire to engage in banking, payment, and investing activities in Pakistan using these accounts, which offer cutting-edge banking options.

Nearly 778,697 accounts were registered under the scheme by the end of January 2025, according to the data.

By the end of January, foreign-born Pakistanis had contributed US $59 million to Roshan Equity Investment, US $479 million to Naya Pakistan Certificates, and US $799 to Naya Pakistan Islamic Certificates.

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FBR lowers Karachi’s built-up structure property valuation rates

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A year-by-year breakdown of the depreciation value of residential and commercial built-up properties is included in the updated property valuation rates for Karachi that the FBR has announced.

The notification said that built-up structural values on residential property will be gradually reduced.

A residential home’s built-up structure, which is five to ten years old, will lose five percent of its worth.

In a similar vein, constructions between the ages of 10 and 15 will lose 7.5% of their value, while those between the ages of 15 and 25 would lose 10%. Built-up structures that are more than 25 years old will be valued similarly to an open plot.

Furthermore, age will also be used to lower the valuation of built-up properties, such as apartments and flats.

Structures that are five to ten years old will depreciate by ten percent, while those that are ten to twenty years old will depreciate by twenty percent. A 30% depreciation will be applied to properties that are 20 to 30 years old, while a 50% reduction will be applied to those that are above 30 years old.

In terms of commercial built-up properties, buildings that are 10 to 15 years old will lose 5% of their value, while those that are 15 to 25 years old will lose 8%. The value of properties that are more than 25 years old will drop by 10%.

In contrast, there would be a 15% boost in the value of commercial properties in the Defence Housing Authority (DHA) that face any Khayaban.

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Remittances Increase 25.2% in January 2025: $3.0 Billion Inflow

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Remittances from Pakistani workers totalled US$3.0 billion in January 2025, representing a 25.2% increase from the previous year.

The cumulative remittances for July through January of FY25 were 20.8 billion dollars, up 31.7 percent from 15.8 billion dollars during the same period in FY24.

In January 2025, the United States of America contributed 298.5 million dollars, the United Kingdom contributed 443.6 million dollars, the United Arab Emirates contributed 621.7 million dollars, and Saudi Arabia contributed 728.3 million dollars.

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