Pakistan’s bullion market saw silver prices decline on Thursday, 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.
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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.
For 10 grams, 24-karat silver decreased by Rs. 62 to Rs. 5,889. The decline in both per-tola and 10-gram rates points to renewed selling pressure in the local market.
The latest drop came alongside weakness in international silver prices. The international silver price fell by $0.73 to $63.91 per ounce, retreating from its recent gains. The decline in global prices provided a weaker market signal for local silver traders.
Silver has also moved lower from its late-August peak of around Rs. 7,329 per tola. At Thursday’s rate of Rs. 6,869, the metal is approximately Rs. 460 below that peak.
However, silver remains above its July lows of around Rs. 6,000 per tola. The failure to sustain levels above Rs. 7,000 indicates that the market continues to face pressure in the near term, although future movements will depend on both international prices and local market conditions.
A day earlier, Pakistan’s bullion market saw a modest recovery in silver prices on Wednesday, with the white metal posting gains after recent declines. The silver rate in Pakistan for 24-karat silver increased by Rs140 to close at Rs6,942 per tola.
The rise provided a pause in the recent downward trend that had pushed silver prices below the Rs7,000 level. The latest increase also reflected renewed buying interest at current price levels.
All rates are officially certified by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA) and are based on interbank exchange rates for 999-purity 24-karat silver.
