Silver prices in Pakistan continued their decline on Monday, with the 24-karat silver rate falling by Rs39 per tola to Rs7,059.
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The latest decline extends silver’s recent downward trend as the precious metal gives back part of the gains recorded during its recovery from the July lows. Continued weakness suggests the market remains under selling pressure.
The 24-karat silver rate fell by Rs34 per 10 grams to Rs6,051. The decline across both measurements reflects the ongoing correction in the local silver market.
Global market weakness also weighed on local prices. The international silver price fell by $0.39 per ounce to $65.80, extending its retreat from recent highs and providing a bearish signal for local traders.
Silver has now fallen by around Rs250 per tola from its late-August peak above Rs7,300. Despite the correction, the metal remains well above its July low of around Rs6,000 per tola, retaining gains of approximately Rs1,000.
Last week, Karachi silver prices declined slightly, with the metal easing as global precious metals markets turned softer alongside gold.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat silver per tola fell by Rs. 63 to settle at Rs. 7,098.
The mild decline came as gold also retreated on Saturday, with the international gold price falling by $36 to $4,430 per ounce, pointing to a broadly softer session across precious metals.
The rates are officially certified by the All Pakistan Sarafa Gems and Jewellers Association, based on interbank exchange rates for 999-purity (24-karat) silver.
