KARACHI: Amid record breaking domestic rates, Pakistan’s gold imports specifically for jewellery export purposes have remained nil from June-November followed by negligible exports of jewellery.
On Saturday, the 10-gram and one-tola gold rates hit a new all time high of Rs407,803 and Rs475,662, up by Rs1,972 and Rs2,300 from Friday, respectively.
As per data rates issued by All Pakistan Sarafa Gems and Jewellers Association, domestic prices had risen as a result of continuous rally in world gold price which rose by $23 to $4,533 per ounce.
The country’s gold jewellery export had plunged into crisis owing to the abrupt suspension of SRO760 on May 6. After hectic efforts by the stakeholders, the Ministry of Commerce on Nov 21, 2025 had issued an SRO 2198 (I) 2025 by allowing import of gold and jewellery exports after a lapse of over six months.
Yellow metal delivers 74pc and stocks 48pc return in 2025
The SRO said the period of suspension so far under SRO760 was “accordingly condoned”, thereby enabling exporters to avail the mandatory entitlement period of 120 days under the entrustment scheme.
Despite allowing import/export of gold and jewellery, the data of Pakistan Bureau of Statistics (PBS) pointed out nil import of gold in November while jewellery exports had been struggling to pick up pace. From July to November 2025, jewellery exports during 5MFY26 fell by 97pc to only $113,000 from $8.2m in the same period last fiscal.
Former chairman Pakistan Gems and Jewellery Traders and Exporters Association, Habib ur Rahman told Dawn on Saturday that gold imports have resumed from December with the arrival of 15kg while jewellery exports in December stood at around 50kg. Jewellery exports are being made to the USA, the UK and Dubai.
On January 1, 2025, the 10-gram and one-tola gold rates were Rs234,568 and Rs273,600 based on the global gold rate of $2,624 per ounce. Till to date, the price of 10-gram and one-tola have surged by Rs177,235 and Rs202,062, respectively, while international price swelled by $1,909 per ounce.
According to Topline Securities, gold delivered an exceptional higher return of almost 74pc in 2025 as compared to other select asset classes.
The KSE 100 index recorded the second largest increase among various select asset classes, rising by 48pc (Jan 1 to Dec 24) with four trading sessions left in 2025. The gain is inclusive of dividends received during this period.
Historically, real estate has been one of the preferred investment option in Pakistan. Commercial and residential plot prices of DHA Karachi and DHA Lahore on average increased by 18pc and 15pc, respectively, according to Zameen.com, while houses prices in DHA Karachi and DHA Lahore on an average rose by eight per cent.
Topline said Naya Pakistan Pak Rupee Certificates under the Roashan Digital Account generated a return of 22pc in 2025. Rates were revised later in March to 13pc while Naya Pakistan US dollar certificate earned a return of 10pc.
Wthin fixed income market, average bank saving rates remained 9pc while 3-year Special Saving Certificate provided 12pc gain. PIBs delivered a 14pc and T-bill yielded 12pc in 2025.
Published in Dawn, December 28th, 2025
