State Bank sells Rs934b worth of T-bills, PIBs | The Express Tribune
Gold soars to new peak at Rs440,900 as it breaks $4,200 barrier globally; rupee edges up The State Bank of Pakistan (SBP) has decided to raise the policy rate. PHOTO: FILE ISLAMABAD: KARACHI The State Bank of Pakistan (SBP) raised a total of Rs775.9 billion through the sale of Market Treasury Bills (MTBs) and an…
Gold soars to new peak at Rs440,900 as it breaks $4,200 barrier globally; rupee edges up
The State Bank of Pakistan (SBP) has decided to raise the policy rate. PHOTO: FILE
ISLAMABAD:
KARACHI
The State Bank of Pakistan (SBP) raised a total of Rs775.9 billion through the sale of Market Treasury Bills (MTBs) and an additional Rs157.8 billion via Pakistan Investment Bonds – Floating Rate (PFLs) in separate auctions held on Wednesday.
According to the SBP’s Domestic Markets and Monetary Management Department, tenders for one-month, three-month, six-month, and 12-month MTBs were invited through primary dealers, with settlement scheduled for October 16, 2025.
The auction saw total acceptance of Rs775.9 billion, with cut-off yields remaining largely stable at 11.11% for one-month, 11.05% for three-month, 11.04% for six-month, and 11.25% for 12-month instruments.
Separately, the SBP conducted an auction for 10-year Pakistan Investment Bonds – Floating Rate, raising Rs157.84 billion, including Rs2.84 billion in non-competitive bids. The cut-off price for the issue was set at 94.84, with bids received in the price range of 94.89 to 92.93.
Furthermore, the Pakistani rupee recorded a slight appreciation of 0.01% against the US dollar in the inter-bank market on Wednesday. According to market data, the local currency closed at Rs281.12 per dollar, gaining Rs0.03 from the previous session’s closing rate of Rs281.15.
Gold prices in Pakistan soared to another all-time high, mirroring the global surge in bullion that broke past the $4,200-per-ounce level for the first time in history, as escalating US-China trade tensions and growing expectations of further US Federal Reserve rate cuts boosted safe-haven demand.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold per tola jumped by Rs5,800 to reach a new peak of Rs440,900, while 10-gram gold rose by Rs4,972 to sell at Rs378,000.
On Tuesday, the yellow metal had already notched a record high of Rs435,100 per tola, after gaining Rs6,900 in a single session.
In the international market, gold touched an unprecedented $4,218 per ounce before stabilising around $4,194, according to market data. Analysts said the rally was driven by heightened global uncertainty and the ongoing US government shutdown, which continues to weigh on investor sentiment.
Commenting on the development, Adnan Agar, Director at Interactive Commodities, said that gold has once again set a record high. For spot gold, the high of $4,218 has been reached. The market remains firm near $4,194 after hitting the low of $4,180. “Every day, gold is gradually climbing by $50-60, setting a new record each time.”
The US government shutdown is adding to this momentum. Until there’s a major update or economic data release, the trend remains one-sided – “gold is moving steadily upwards.”
Market observers said that unless there is resolution of the US fiscal uncertainty or there are signs of profit-taking, the bullish momentum for gold is expected to persist, with investors continuing to seek safety amid global market volatility.
