Gold reserves rise by $3.5B in seven months, offering protection against inflation and currency fluctuations.
KARACHI: Pakistan’s gold reserves have risen sharply to $10.374 billion, according to the latest figures released by the State Bank of Pakistan (SBP), reflecting a significant increase over recent months.
The central bank reported that the country now holds 64.76 tons of gold, with valuations climbing by $1.279 billion in January 2026 alone. Over the first seven months of the current fiscal year, gold reserves have gained $3.5 billion, up from $6.84 billion in June 2025, when the holdings totaled 2.082 million ounces (5.552 million tolas).
Gold Prices See Short-Term Volatility
Despite the growth in reserves, local gold prices fluctuated. Last week, the price per tola fell by Rs 8,600 to Rs 519,962, while 10 grams dropped by Rs 7,373 to Rs 445,783. Recent data from the All Pakistan Gems and Jewelers Association showed further declines, with per tola prices at Rs 523,762 and 10 grams at Rs 449,041.
Global gold prices mirrored the downward trend. The precious metal slipped 1.1% to $4,988.04 per ounce, while US April gold futures closed at $5,006.60 per ounce, down 0.8%.
Analysts say that despite domestic price dips, the rise in international valuation of reserves strengthens Pakistan’s economic buffer. “The increase in gold reserves offers protection against currency volatility and economic uncertainty,” said a local financial analyst.
The growth of gold reserves not only enhances Pakistan’s foreign reserve position but also acts as a hedge against inflation and foreign exchange pressures, providing the central bank with stronger financial stability.
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