Silver rate in Pakistan declined on Thursday, with the white metal posting a significant loss despite gold’s small gain. The 24-karat silver rate fell by Rs. 120, closing at Rs. 6,368 per tola.
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This decline represents a notable divergence from gold’s movement, suggesting that silver-specific factors may be weighing on the white metal. The silver market weakness continues amid a challenging global environment.
In 10 grams, 24-karat silver decreased by Rs. 103 to Rs. 5,459. 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 $1.20 to $58.90, breaking below the critical $60 level. This global weakness provided a strong bearish cue for local traders.
Since the late August peak near Rs. 7,329, silver has now lost approximately Rs. 960 per tola. The metal remains above the July lows near Rs. 6,000, but the break below $60 in international markets raises concerns about further downside for the white metal in the near term.
A day earlier, 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.
In 10 grams, 24-karat silver decreased by Rs. 86 to Rs. 5,562. The substantial declines across both measurements indicate renewed selling pressure.
All rates are officially certified by the All Pakistan Sarafa Gems and Jewellers Association, based on interbank exchange rates for purity 999 (24K).
