Pakistan’s bullion market recorded a steep decline on Wednesday, as silver prices plunged sharply across all categories, breaking below the key Rs. 8,000 mark for the first time in several sessions as global precious metals markets came under heavy selling pressure.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat silver per tola plunged by Rs. 259, settling at Rs. 7,894.
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Similarly, the rate of 24-karat silver per 10 grams also fell sharply by Rs. 222, closing at Rs. 6,767, as selling activity dominated the domestic market throughout the session.
Silver rates in Pakistan on Wednesday, June 3, 2026:
- Silver, 24K per tola: Rs. 7,894 (-259)
- Silver, 24K per 10 grams: Rs. 6,767 (-222)
In the international market, silver prices also witnessed a sharp decline, falling by $2.59 to settle at $74.10 per ounce as global precious metals markets came under significant selling pressure during the session.
The steep drop in global silver markets was swiftly reflected in domestic prices, as traders and investors moved to offload positions amid the broad market sell-off. With selling activity dominating the session and fresh buying interest largely absent, silver prices fell sharply across all categories throughout the day.
A Volatile Few Sessions
Wednesday’s sharp decline comes after two consecutive positive sessions. On Tuesday, June 2, silver prices had gained Rs. 94 per tola to settle at Rs. 8,153, as global precious metals markets edged higher and buying activity picked up noticeably. International silver had also risen by $0.94 to settle at $76.69 per ounce on that day.
READ: Silver records modest gains in Pakistan on Tuesday, June 2, 2026
Prior to Tuesday’s gain, silver had also edged higher on Monday, June 1, rising by Rs. 46 per tola to settle at Rs. 8,059. International silver had gained $0.46 to settle at $75.75 per ounce on that day as well.
Wednesday’s steep decline of Rs. 259 per tola has now pushed domestic silver prices back below the key Rs. 8,000 mark, erasing the gains recorded over the previous two sessions and marking a significant setback for the precious metals market.
Below All-Time High Levels
Wednesday’s decline pushes silver prices further below their all-time highs in Pakistan. The metal had previously traded above Rs. 10,000 per tola in early 2026, when international silver prices climbed above $100 per ounce, reflecting strong global demand and bullish investor sentiment at the time.
The current price of Rs. 7,894 per tola, while significantly below that peak, continues to reflect a market that remains sensitive to global developments. With international silver now trading at $74.10 per ounce, market analysts will be watching closely whether this sharp decline represents a temporary correction or signals a more sustained period of weakness.
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Silver, widely used in industrial sectors including electronics and solar panel manufacturing, remains highly sensitive to shifts in international demand and investor outlook. The metal continues to benefit from growing industrial demand and a global shift toward renewable energy, which has significantly increased the use of silver in solar panel production.
Market watchers will be closely monitoring international developments in the coming sessions to gauge whether silver can recover and climb back above the key Rs. 8,000 mark or faces further downward pressure.
All rates are officially certified by the All Pakistan Sarafa Gems and Jewellers Association, based on interbank exchange rates for 999 purity (24K).
For daily updates visit our detailed Silver Price in Karachi page
