Silver rate in Pakistan declined on Wednesday, with the white metal posting a significant loss. The 24-karat silver rate fell by Rs. 100, closing at Rs. 6,488 per tola.
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This sharp decline erases the gains from earlier in the week, suggesting that the white metal continues to face headwinds. The silver market weakness persists amid a challenging global environment.
In 10 grams, 24-karat silver decreased by Rs. 86 to Rs. 5,562. The substantial declines across both measurements indicate renewed selling pressure.
The drop was driven by weakness in global markets. The international silver price fell by $1.00 to $60.10, retreating toward the $60 level. This global softness provided a strong bearish cue for local traders.
Since the late August peak near Rs. 7,329, silver has now lost approximately Rs. 840 per tola. The metal remains above the July lows near Rs. 6,000, but the breach of the Rs. 6,500 level raises concerns about further downside if global weakness continues.
Earlier to this, silver rate in Pakistan continued its gradual recovery on Monday, with the white metal posting a modest gain for a second consecutive session. The 24-karat silver rate rose by Rs. 66, closing at Rs. 6,588 per tola.
This steady advance suggests that buying interest is returning to the white metal, though the gains remain measured. The silver market recovery appears to be gaining slow but steady traction.
In 10 grams, 24-karat silver increased by Rs. 57 to Rs. 5,648. The consistent gains across both measurements indicate renewed positive sentiment.
All rates are officially certified by the All Pakistan Sarafa Gems and Jewellers Association, based on interbank exchange rates for purity 999 (24K).
