The State Bank of Pakistan report showed Pakistan’s current account swung into surplus after showing a considerable improvement in May 2026.

The central bank said the current account had a surplus of $459 million in May 2026, compared with a loss of $276 million in April. This is a huge reversal of the country’s foreign account situation in a month.

The current account too continued to be in surplus in the first eleven months of the current fiscal with a total balance of $255 million.

The data indicated that the current account gain was mostly driven by an increase in workers’ remittances that helped balance external pressures and supported the return to positive territory.

Meanwhile economists remarked that the consistent rise in remittance inflows also played a crucial role in strengthening the external account and enhancing overall balance of payments stability over the time.

Gold rose for a fifth straight session on Wednesday as optimism over a U.S.-Iran peace deal curbed expectations for U.S. interest rate hikes, while investors awaited further details on the accord and the Federal Reserve’s policy meeting.

Spot gold climbed 0.3% to $4,341.12 an ounce by 0230 GMT, approaching a one-week peak reached on Monday. U.S. gold futures for August delivery climbed 0.2% to $4,361.10.

Details of a U.S.-Iran temporary deal to end the ⁠Middle East conflict are emerging, with U.S. President Donald Trump stating it would rule out ​a nuclear weapon for Tehran and a U.S. official suggesting it would allow Iran to sell ​oil once signed.

Oil prices stayed near a three-month low after news that Iranian petroleum could soon enter world markets, soothing inflationary fears.The decline in oil prices has taken some of the upward pressure off rates and dampened expectations for rate hikes. “But the rally (in gold) is losing some momentum with all eyes on the Fed’s monetary policy announcement,” Ilya Spivak, global macro head at Tastylive, said.

Investors now look to the U.S. Fed policy decision and statements scheduled later in the day, with rates largely expected to remain on hold. “This is the first FOMC meeting led by Kevin Warsh and traders still seem uncertain as to how he would balance a hawkish record, increasing inflation and pressure from a White House calling for a dovish pivot,” Spivak said.

Gold is not attractive when rates are high, because it does not pay interest.“Longer term, structural support for (gold) is expected to remain, underpinned by continued Asian demand and ongoing central bank buying as a hedge against geopolitical and policy risks,” Westpac analysts said in a research note.

Other precious metals also gained with spot silver up 0.3% to $70.38 per ounce, platinum rose 0.5% to $1,812.80 and palladium was up 0.3% at $1,355.65.

The Sindh government will introduce its budget for the fiscal year 2026-27 today with a total outlay of more than Rs3.4 trillion, authorities said.

Chief Minister Murad Ali Shah will table the budget in the provincial legislature. The development budget suggested is Rs720 billion and contains more than 3,715 development programs.

Sources said that 73 per cent of the total revenue of Sindh is likely to be received in the form of transfers under the National Finance Commission (NFC) Award.

The budget is also likely to bring respite to government employees with a 10 percent hike in pay and an 8 percent hike in pensions on the cards.

Sources claimed the overall development budget of the province will be about 28 per cent less than the allotment for the current fiscal year. Of the development outlay, Rs256 billion has been planned for foreign project assistance and Rs68 billion has been proposed under the Public Sector Development Programme (PSDP).

The administration is also contemplating to slash the District Annual Development Programme (ADP) allocation from Rs55 billion to Rs15 billion. The Provincial Development Programme is likely to be about Rs385 billion.

Budget data show the development portfolio includes 3,594 current projects and 120 non-approved, new ideas. The Local Government Department’s water supply, drainage and sanitation projects are 972 schemes while the Education Department has 655 schemes in the budget. Hundreds of development projects have also been funded for the Works and Services Department.

The proposed budget has allocated Rs6.3 billion for development projects of law and order institutions, Rs1.5 billion for divisional headquarters schemes, Rs6 billion for fast-track completion of ongoing projects and Rs250 million for development initiatives in undeveloped districts.

Ahead of the budget session, the Sindh Cabinet is also set to convene at 11am to evaluate supplementary expenditures for the outgoing fiscal year and adopt budget plans for FY2026-27.

The Planning and Development Department will also apprise the cabinet about the Annual Development Programme and approve decisions taken by the finance committee and approvals of minutes of previous meetings and summaries of circulation.