FBR Will Now Auction Seized Goods Online — And Gold Just Fell for the Fifth Day: What Buyers Should Do

A New Auction System for Seized Goods

On 22 October 2026, the Federal Board of Revenue (FBR) notified SRO 1889(I)/2026, adding a new Chapter XVII-C to the Sales Tax Rules, 2006. The rules create an online e-auction module for the sale of seized and confiscated goods held by Inland Revenue — a move from manual, in-person sales to a single electronic platform covering registration, listing, bidding, payment and delivery.

Under the system, the officer holding the goods uploads a description, photographs and documents, and an authorised Inland Revenue officer runs the sale. A three-member valuation committee recommends a reserve price for each lot, bidding stays open for 72 hours from the first bid, and the winner must pay the full bid amount plus applicable taxes, duties and fees within seven days. Goods are released only after payment is verified and an electronic release order is issued.

What This Does — and Does Not — Mean for Gold Buyers

The honest reading matters here. The notification names no go-live date and no web address for the module, and no first auction date has been confirmed, so ordinary buyers cannot yet buy anything through it. Anyone who claims to sell you seized gold through an FBR auction link today should be treated with suspicion — fake auction pages are a classic way to steal advance payments.

Gold Fell for the Fifth Day Running

Alongside the auction news, gold itself got cheaper. According to rates attributed to the All Pakistan Sarafa Gems and Jewellers Association, 24-karat gold fell by Rs 2,500 per tola on Saturday to Rs 422,036, while 10 grams fell by Rs 2,144 to Rs 361,827. The international price fell by $25 to $3,995 per ounce. A day earlier, on Friday, gold had fallen by Rs 7,000 per tola to Rs 424,536 from Rs 431,536.

Market reports link the slide to a weaker international market, a firmer US dollar and higher US Treasury yields, with traders watching the US Federal Reserve's policy meeting on 27–28 October for clues about interest rates. Rates move during the day and differ slightly between rate boards and cities — some boards showed around Rs 418,000 on Sunday morning — so always check aaj ka rate before you pay, and remember retail jewellery prices add making charges on top of the bullion rate.

Should You Buy the Dip — or Wait?

No honest seller can promise you the bottom of a falling market, and a five-day slide is not a guarantee of a sixth. Generally, falling prices help buyers who already need gold — for a wedding or a family occasion — more than they help speculators trying to time the market, because a need-based purchase does not depend on guessing the next move.

One calm approach is to stagger the purchase: if you need a fixed weight, some jewellers may allow you to buy part now and part later rather than committing everything on one day's rate. For pure investment, bars and biscuits generally carry lower making charges than finished jewellery, but they still need secure storage and a clean purchase record.

Five Checks Before You Pay for Any Gold

• Check the weight yourself: confirm the weight in grams and tolas on the scale, and make sure the receipt states the same weight you saw.

• Check the purity: confirm the karat — 24K for bars, generally 22K for most jewellery — and ask how purity is assured if no assay or hallmark is offered.

• Check the rate maths: the bill should separately show the day's bullion rate, the weight, and the making charges, so you can verify the total yourself.

• Check the receipt: keep a stamped, itemised receipt with weight, karat, rate and making charges — it is your proof for resale, exchange, insurance, and any future tax question.

• Check the buy-back terms in writing: ask what the shop will pay if you return or exchange the piece later, and get that policy on the bill before you pay.

The Bottom Line for This Week

Two separate developments point to the same lesson: the auction system is a step toward transparency in disposing of seized goods, not a cheap-gold sale yet; and the price slide is real but carries no guarantee. Buy on need, verify the day's rate, and keep the paper trail. Rates cited here are as reported on 24–25 October 2026 and can change; this is general guidance, not financial advice.