Pakistan’s bullion market saw silver rates edge lower on Thursday, with the 24-karat silver rate falling Rs17 to Rs7,124 per tola as the precious metal continued its recent consolidation.
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The price of 24-karat silver also declined by Rs15 to Rs6,107 per 10 grams. The limited movement indicates that selling pressure remains relatively low in the local market.
In the international market, silver prices fell slightly, with the global silver rate declining by $0.17 to $66.45 per ounce. The marginal drop provided a modest bearish signal for local traders.
Silver has retreated by around Rs200 per tola from its late-August peak near Rs7,329. However, the metal remains approximately Rs1,100 above its July low of around Rs6,000.
Earlier to this, Pakistan bullion market saw silver prices snap their losing streak on Tuesday, with the white metal posting a modest gain. The silver rate in Pakistan for 24-karat silver rose by Rs. 10, closing at Rs. 7,069 per tola.
This small uptick ends three consecutive sessions of decline for silver and suggests that buying interest may be returning at current levels.
All rates are officially certified by the All Pakistan Sarafa Gems and Jewellers Association, based on interbank exchange rates for 999 purity (24K).
