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SBP pumps nearly Rs3 trillion into market

The operations involved the Open Market Operations (OMO) and the Short-Term Money Market Operations (SMMO). In OMO, the SBP purchased government securities from commercial banks.

  • The price drop reflects the volatile nature of gold as a safe-haven asset in times of economic uncertainty. As global economic growth has slowed down, investors have become increasingly cautious, leading to a surge in sell-offs across various asset classes, including gold. Investors are seeking alternative assets that are less correlated with traditional markets, and gold’s price has been volatile due to this increased demand.

    The correction is attributed to a combination of factors, including a decline in global gold prices and a surge in the value of the Pakistani rupee against the US dollar. The Pakistani gold market is highly sensitive to global gold prices, and the recent correction is a reflection of this sensitivity.

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