Karachi:
The foreign 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 stood at $ 15.87 billion as of February 28, 2025. This, the SBP has $ 11.25 billion, while commercial banks have $ 4.62 billion.
Meanwhile, gold prices fell into Pakistan, reflecting a fall in international rates. In the local market, the price per tola decreased by RS3,000 on Thursday, establishing in RS304,000.
According to the All-Pakistan Gems and Jewers Sarafa (APGJSA) association, the price of 10 grams gold fell at RS2,571 to RS260.630. On Wednesday, gold prices increased in RS700 per Tola, closing at RS307,000.
Internationally, gold prices also saw a decrease on Thursday. According to APGJSA, the International Rate for Pakistan stood at $ 2,893 per ounce (including a $ 20 premium), marking a decrease of $ 28 for the day.
Globally, gold prices fell due to the increase in yields of the United States and the profits, while market attention became payroll data to obtain information on the monetary policy of the Federal Reserve.
Spot Gold fell 0.2% to $ 2,912.82 per ounce from 1442 GMT after increasing during the last three sessions. The US gold futures also fell 0.2% to $ 2.921.50.
“We are only seeing a slight pressure to obtain recent profits. The underlying fundamentals remain optimistic … Another thing that presses a slight pressure in the gold market is an increase in bond yields,” said Jim Wyckoff, senior market of the Kitco Metal market.
The 10 -year -old treasure yields reached a maximum of a week, reducing the attractiveness of gold not that does not come out.
Amid the geopolitical uncertainties, gold, a global safe-haven, has won more than 10% in the year to date and reached a maximum record of $ 2,956.15 on February 24.
The United States imposed a 25% tariff on imports from Mexico and Canada on Tuesday, along with higher tariffs on Chinese products. However, the White House confirmed on Wednesday that cars manufacturers of Canada and Mexico would be exempt from these rates for a month, subject to the fulfillment of the existing free trade rules.
The Pakistani rupe saw a slight gain against the US dollar, appreciating 0.02% in the interbank market on Thursday. At the end of the commercial session, La Rupia stood at 279.82, marking an increase of 5 paisa of its previous closure of 279.87 on Wednesday.
Worldwide, the euro reached a maximum of four months against the US dollar. This increase was promoted by an increase in the yields of European bonds after Germany’s proposal of an infrastructure fund and reviews of € 500 billion ($ 539.85 billion) and reviews to the limits of loans.
