State Bank sells Rs934b worth of T-bills, PIBs | The Express Tribune
Key Takeaways
- Gold price in Pakistan reached an all-time high of Rs440,900 per tola, mirroring the global surge past $4,200 per ounce.
- The State Bank of Pakistan raised Rs775.9 billion through Market Treasury Bills and Rs157.8 billion via Pakistan Investment Bonds.
- The Pakistani rupee slightly appreciated by 0.01% against the US dollar, closing at Rs281.12.
- The global gold rally is attributed to escalating US-China trade tensions, expectations of US Fed rate cuts, and the ongoing US government shutdown.
- Market observers expect the bullish momentum for gold to persist unless there is a resolution to US fiscal uncertainty or significant profit-taking occurs.
Gold prices in Pakistan reached a record high of Rs440,900 per tola, tracking a historic global surge where bullion surpassed $4,200 per ounce, fueled by escalating US-China trade tensions and anticipation of further US Federal Reserve rate cuts increasing safe-haven appeal. The State Bank of Pakistan (SBP) actively managed liquidity, raising a substantial Rs775.9 billion through the sale of Market Treasury Bills across various tenors, with yields remaining stable. In a separate move, the SBP secured an additional Rs157.84 billion via 10-year Pakistan Investment Bonds – Floating Rate. The local currency, the Pakistani rupee, also saw minor positive movement, appreciating by 0.01% to close at Rs281.12 against the US dollar. Analysts suggest the bullish trend in gold is likely to continue amid ongoing global uncertainty and the US government shutdown, with prices steadily climbing by $50-$60 daily.
