Silver rate in Pakistan fell sharply on Monday, with the 24-karat silver price declining by Rs325 per tola to close at Rs6,578.
Follow Times of Karachi on Google News and add as a preferred Source on Google
The latest decline pushed silver below the Rs6,600 level and brought the metal closer to its recent lows amid weakness in international silver prices.
The 24-karat silver rate decreased by Rs325 per tola during the session. In the 10-gram category, 24-karat silver fell by Rs279 to Rs5,639.
The decline across both the per-tola and 10-gram rates reflected continued weakness in the local precious metals market.
The fall in Pakistan’s silver market came alongside a sharp decline in international silver prices. The international silver price dropped by $3.25 to $61.00 per ounce, according to the figures cited for the session.
The decline in global prices added pressure to domestic silver rates and contributed to Monday’s significant drop.
Since reaching a late-August peak near Rs7,329 per tola, silver has declined by approximately Rs750 per tola.
The latest price is also approaching the Rs6,000 level recorded around the July lows. Further movements in international silver prices and the exchange rate will remain important factors for the domestic market.
Earlier to this, Silver Rate in Pakistan recovered modestly on Friday, with the white metal posting a gain after Thursday’s sharp decline. The 24-karat silver rate rose by Rs. 126, closing at Rs. 6,963 per tola.
This rebound partially recovers the losses from the previous session, suggesting that buying interest has returned at current levels. The white metal is once again approaching the Rs. 7,000 mark.
In 10 grams, 24-karat silver increased by Rs. 108 to Rs. 5,969. The gains across both measurements indicate renewed positive sentiment for silver.
All rates are officially certified by the All Pakistan Sarafa Gems and Jewellers Association, based on interbank exchange rates for purity 999 (24K).
