Silver prices in Pakistan recovered sharply on Friday after recent declines, with the price of 24-karat silver increasing by Rs300 per tola to close at Rs7,169.
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The latest increase pushed the silver rate back above the Rs7,000 per tola level following Thursday’s decline. The recovery came alongside a rise in international silver prices.
The price of 24-karat silver increased by Rs257 per 10 grams, reaching Rs6,146.
The international price of silver rose by $3 per ounce to $66.91, providing support to local silver prices.
Domestic silver rates are influenced by international bullion prices as well as movements in the Pakistani rupee and local market conditions.
Despite Friday’s recovery, silver remains below its late-August peak of around Rs7,329 per tola.
The latest increase represents a significant recovery from Thursday’s level of below Rs6,900 per tola. However, further price movements will depend on international silver prices, currency movements and domestic market demand.
A day earlier, Pakistan’s bullion market saw silver prices decline, with the white metal giving back part of the previous day’s gains. The silver rate in Pakistan for 24-karat silver fell by Rs. 73, closing at Rs. 6,869 per tola.
The decline followed Wednesday’s rebound and indicates that the recent correction in the silver market may still be continuing. The latest movement also highlights the volatility seen in precious metals prices in recent sessions.
All rates are officially certified by the All Pakistan Sarafa Gems and Jewellers Association, based on interbank exchange rates for purity 999 (24K).
