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Gold price tops over one-month high, surpasses Rs148,000 per tola

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  • Gold gaines Rs2,400 per tola today.
  • Price soared by Rs9,100 per tola in last four sessions.
  • Silver prices remain unchanged.

KARACHI: The gold price in Pakistan surpassed important threshold of Rs148,000 per tola on Monday in line with the price movement in the international market.

Rates released by All Sindh Sarafa Association — which determines local prices based on rupee-dollar parity and international rates — reported that the price of gold surged by Rs2,400 per tola and Rs2,258 per 10 grams to settle at Rs148,100 and 126,972.

The safe-haven asset regained its shine last week due to fluctuations in rupee-dollar parity. Cumulatively, the price of yellow metal soared by Rs9,100 per tola in the last four sessions (Thursday-Monday).

Gold is considered a hedge against soaring inflation and uncertainties, but speculations of rising interest rates and the rupee’s appreciation dampen its appeal by increasing the opportunity cost of holding the non-interest-bearing asset.

In the international market, gold prices held above the key $1,700 per ounce level on Monday, as hopes that the Federal Reserve might slow the pace of rate hikes after mixed US jobs data helped offset pressure from a robust dollar.

Fed’s next policy meeting is scheduled for September 20-21.

It should be noted that the gold price stands below cost and is cheaper by Rs4,000 per tola compared to Dubai.

Meanwhile, silver prices in the domestic market remained unchanged at Rs1,480 per tola and Rs1,268.86 per 10 grams today.

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The total amount of Pakistan’s liquid foreign reserves is $15.95 billion.

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As of February 14, Pakistan’s total liquid foreign reserves were $15,947.9 million, with the State Bank of Pakistan’s (SBP) holdings being $11,201.5 million.

Official figures for the week ending February 14, 2025, show that the central bank’s liquid foreign exchange reserves rose by $35 million to $11,201.5 million.

Commercial banks maintained net foreign reserves of $4,746.4 million during the period under review, according to the breakdown of foreign reserves.

The nation’s total liquid foreign reserves as of the week ending February 07, 2025, were $15,862.6 million.

Of these, the central bank held $11,166.6 million in foreign reserves, while commercial banks kept $4,696 million in net reserves.

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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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