Karachi:
The exchange reserves of the State Bank of Pakistan (SBP) increased by $ 27 million, reaching $ 11.25 billion during the week ending on February 28, 2025.
According to the latest data, the total liquid foreign reserves held by the country amounted to $ 15.87 billion on February 28, 2025, the SBP holds $ 11.25 billion, while commercial banks hold $ 4.62 billion.
Meanwhile, gold prices have dropped in Pakistan, reflecting a drop in international rates. On the local market, the price by Tola decreased from RS3,000 on Thursday, settling in Rs304,000.
According to the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA), the price of 10 grams dropped from RS2.571 to RS260 630. On Wednesday, gold prices had increased by 700 rupees per tola, closing to Rs307,000.
Internationally, gold prices also had a drop on Thursday. According to APGJSA, the international rate of Pakistan amounted to $ 2,893 per ounce (including a bonus of $ 20), marking a drop of $ 28 for the day.
Globally, gold prices have decreased due to the increase in yields of the American treasury and the profit, while market attention turned to the pay data for an overview of the monetary policy of the federal reserve.
Gold at point dropped from 0.2% to $ 2,912.82 per ounce to 1442 GMT after increasing for the last three sessions. US Gold Futures also dropped from 0.2% to $ 2,921.50.
“We are simply seeing a slight lucrative pressure from recent gains. The underlying fundamentals are still optimistic … Another thing that exerts slight pressure on the gold market is an increase in bond yields,” said Jim Wyckoff, main analyst of the market at Kitco Metals.
The yields of the US Treasury at 10 years of reference reached a one -week summit, reducing the attraction of gold not rendered.
In the midst of geopolitical uncertainties, Gold, a global safe, won more than 10% for the start of the year and reached a record summit of $ 2,956.15 on February 24.
The United States on Tuesday imposed a 25% rate on imports from Mexico and Canada, as well as other rights to Chinese products. However, the White House confirmed on Wednesday that car manufacturers in Canada and Mexico would be exempt from these prices for a month, subject to existing free trade rules.
The Pakistani roupie experienced a slight gain against the US dollar, appreciating 0.02% on the interbank market on Thursday. At the end of the negotiation session, the Roupie amounted to 279.82, marking an increase of 5 paisa compared to its previous fence of 279.87 Wednesday.
Globally, the euro has reached a four -month summit compared to the US dollar. This increase was motivated by an increase in European bond yields following the Germany’s proposal for an infrastructure fund and revisions of 500 billion euros ($ 539.85 billion) and revisions to borrow limits.
