pakistan gold reserve

 Pakistan Gold Reserve

Pakistan's gold reserves, as of late 2024, stand at 64.66 metric tonnes, as reported by the World Gold Council and other economic data platforms. These reserves have been consistent for the last several years, showing no major fluctuations. The reserves were valued at approximately $5.69 billion in October 2024 based on international gold prices​.

Key Details:

Stability: The State Bank of Pakistan has maintained a stable approach to managing gold as a secure reserve, as evidenced by the fact that the levels of gold reserves have not changed much in recent quarters.

Foreign Exchange Reserves: In September 2023, Pakistan's total foreign exchange reserves were estimated to be around $13.16 billion, including gold.

Global Ranking: Compared to major economies around the world, which typically hold hundreds of tonnes more gold reserves, Pakistan has a moderate amount.

Historical Trends:

Pakistan's gold reserves have remained relatively stable over the past ten years, averaging between 64 and 65 metric tons. In contrast to nations like China and India, which have greatly expanded their holdings, this shows a cautious approach to gold accumulation.

Current Holdings:

Quantity: For several years, Pakistan has maintained a steady 64.66 metric tonnes of gold reserves. This consistency shows that as part of its financial strategy, the State Bank of Pakistan (SBP) places a high priority on keeping these reserves.

Value: Based on the current global gold prices in October 2024, the estimated monetary value of these reserves is USD 5.69 billion.

Strategic Importance:

Economic Stability: Gold is a hedge against inflation and currency fluctuations and is essential to Pakistan's foreign exchange reserves.

Global Comparison: Although Pakistan has substantial reserves, they are insignificant compared to large holders such as the United States (more than 8,000 tonnes) or Germany (3,300+ tonnes).

Percentage of Total Reserves: Gold makes up a small portion of Pakistan's total foreign reserves, which as of the end of 2023 totalled $13.16 billion. This diversification aids in striking a balance between safety and liquidity.

International Context:

Around 20% of all gold mined worldwide is owned by central banks, making them substantial gold holders. Despite being a minor participant in this global dynamic, Pakistan's reserve management policies are in line with international standards.