Karachi bullion market saw silver prices continue their steady recovery on Monday, with the white metal posting another modest gain. The silver rate in Karachi for 24-karat silver rose by Rs. 77, closing at Rs. 6,903 per tola.
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This extends silver’s recovery from the multi-year lows below Rs. 6,000 seen in mid-July, with prices now having climbed approximately Rs. 900 per tola. The silver market recovery is gradually gaining momentum.
In grams, 24-karat silver increased by Rs. 66 to Rs. 5,918. The consistent uptick across both measurements suggests renewed buying interest in the white metal.
The advance was supported by a positive global backdrop. The international silver price per ounce rose by $0.77 to $64.24, continuing its recovery from recent lows. This global silver uptrend provides a supportive environment for local prices.
Since its peak above Rs. 10,000 per tola in early March, silver remains significantly below those highs, but the recovery from the July lows near Rs. 6,000 represents a bounce of approximately 15%.
The white metal’s higher volatility is evident in both the steep decline and the sharper percentage recovery compared to gold.
Last week, Karachi silver prices recorded a sharp decline, with domestic silver rates falling across all major categories as international silver prices also weakened, pulling the metal further away from the Rs. 7,000 per tola mark.
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The price of 24-karat silver per tola fell by Rs. 113, settling at Rs. 6,826. The price of 24-karat silver per 10 grams also declined by Rs. 97, settling at Rs. 5,852.
All rates are officially certified by the All Pakistan Sarafa Gems and Jewellers Association, based on interbank exchange rates for purity 999 (24K).
