The local bullion market saw a slight rebound on Wednesday as silver prices edged higher, recovering a portion of recent losses.
According to the official data released by the All Pakistan Sarafa Gems and Jewellers Association (APGSJA), the rate for 24K silver per tola increased by Rs. 32, settling at Rs. 8,046.
Despite the uptick, market observers note that the precious metal continues to trade under pressure, hovering near the critical support level of Rs. 8,000.
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A sustained move above current levels would be needed to confirm a reversal of the recent bearish trend.
In line with the per-tola increase, the price for 10 grams of 24K silver also moved upward. It rose by Rs. 28, bringing the new trading price to Rs. 6,898.
These rates are officially certified by the APGSJA and are based on the purity of 999 (24K), calculated using the interbank exchange rates to ensure transparency and standardization across the industry.
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The modest recovery in the domestic market followed a slight uptick in international silver prices. Globally, silver added $0.32, trading at $75.62.
All rates are officially certified by the All Pakistan Sarafa Gems and Jewellers Association, based on interbank exchange rates for purity 999 (24K).
