The State Bank of Pakistan (SBP) injected over Rs1.57 trillion into the banking system through conventional open market operations (OMO) and Shariah-compliant Mudarabah-based operations.
According to the central bank, it conducted reverse repo purchase (injection) auctions for 7-day and 14-day tenors on February 20, 2026. Against bids totalling Rs1.60 trillion, the SBP accepted Rs1.39
trillion (face value), equivalent to Rs1.36 trillion in realised value.
The bulk of liquidity, Rs1.30 trillion, was injected in the 14-day tenor at a cut-off rate of 10.51% per annum, while Rs93.1 billion was provided for seven days at 10.53%.
In parallel, the SBP also conducted Shariah-compliant Mudarabah-based OMO injections, accepting the entire offered amount of Rs210.5 billion across both tenors at 10.54%.
Meanwhile, gold prices in Pakistan continued their upward trajectory on Friday, tracking gains in the international market where bullion rose after weaker-than-expected US economic growth data and escalating geopolitical tensions between the United States and Iran lifted safe-haven demand.
In the local market, the price of 24-karat gold per tola climbed by Rs2,500 to Rs526,462, according to rates issued by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). . The price of 10 grams increased by Rs2,144 to Rs451,356.
The latest increase follows Thursday's sharp jump of Rs7,900 per tola, when gold had settled at Rs523,962. Silver prices also moved higher, gaining Rs170 to Rs8,574 per tola.
In the international market, spot gold rose 0.8% to $5,039.42 per ounce by 1404 GMT, while US gold futures for April delivery advanced 1.3% to $5,060.10, amid mixed US macroeconomic signals. Data showed US GDP growth slowed sharply in the fourth quarter, while the Federal Reserve's preferred inflation gauge, the PCE index, came in hotter than expected, reinforcing uncertainty over the interest-rate outlook.
Market participants also remained focused on geopolitical risks after US President Donald Trump issued a 10-day ultimatum to Iran, raising concerns about potential escalation in the Middle East.
Adnan Agar, Director at Interactive Commodities, said gold trading remained range-bound, with prices moving between $5,049.95 and $5,070 per ounce. "The market is a bit slow today and currently near its session high. Let's see what happens over the weekend," he said.
He noted that the broader near-term outlook for gold remained slightly negative due to macro factors but warned that any deterioration in US-Iran relations could quickly push prices higher. Analysts said bullion continues to draw support from safe-haven flows and expectations that central-bank gold purchases, which slowed recently, may resume alongside persistent geopolitical risks.
