As of December 16, 2024, silver prices in Pakistan have shown notable fluctuations, influenced by various economic and market factors.
Today Silver Rates in Pakistan
| Measurement Unit | 24K Silver Price (PKR) |
|---|---|
| 1 Gram | 300 |
| 10 Grams | 3,008 |
| 1 Tola | 3,509 |
| 1 Ounce | 9,357 |
| 1 Kilogram | 266,100 |
Silver Prices Across Major Pakistani Cities
| City | 10 Grams (PKR) | 1 Tola (PKR) | 52.5 Tolas (PKR) |
|---|---|---|---|
| Karachi | 3,008 | 3,509 | 184,223 |
| Lahore | 3,008 | 3,509 | 184,223 |
| Islamabad | 3,008 | 3,509 | 184,223 |
| Rawalpindi | 3,008 | 3,509 | 184,223 |
| Multan | 3,008 | 3,509 | 184,223 |
| Faisalabad | 3,008 | 3,509 | 184,223 |
| Quetta | 3,008 | 3,509 | 184,223 |
| Peshawar | 3,008 | 3,509 | 184,223 |
Understanding Silver Pricing in Pakistan
Silver, often referred to as the “poor man’s gold,” holds significant value in Pakistan’s jewelry market. Its affordability compared to gold makes it a popular choice among consumers. However, silver prices are subject to daily fluctuations due to several factors:
- Global Market Trends: International silver prices play a pivotal role in determining local rates. Global demand, mining outputs, and economic conditions can cause price variations.
- Currency Exchange Rates: The value of the Pakistani Rupee (PKR) against major currencies, especially the US Dollar (USD), directly impacts silver prices. A weaker PKR can lead to higher silver prices domestically.
- Local Demand and Supply: Festive seasons, cultural events, and consumer preferences influence the demand for silver jewelry, affecting its market price.
- Economic Indicators: Inflation rates, interest rates, and overall economic stability can sway investor sentiment towards precious metals like silver, impacting its price.
Recent Trends in Silver Prices
In recent months, silver prices in Pakistan have experienced both highs and lows. For instance, in December 2024, the lowest recorded price was approximately PKR 8,492.69 per ounce, while the highest reached around PKR 8,879.28 per ounce. These fluctuations highlight the metal’s volatile nature and the importance of staying informed about current rates.
Factors Influencing Silver Prices
Several key factors contribute to the dynamic nature of silver pricing:
- Supply and Demand Dynamics: Global production levels and industrial demand, particularly from sectors like electronics and solar energy, can significantly impact silver prices.
- Investor Behavior: Shifts in investor sentiment towards safe-haven assets during economic uncertainties can drive up demand and prices for silver.
- Geopolitical Events: Political instability or international conflicts can lead investors to seek refuge in precious metals, influencing their market value.
FAQs About Silver Rates in Pakistan
- How much is 1 tola of silver in grams?
- One tola is equivalent to approximately 11.66 grams.
- Why do silver prices vary between cities in Pakistan?
- While the base price is influenced by international rates, local factors such as demand, supply, and transportation costs can cause slight variations in silver prices across different cities.
- How often do silver prices change?
- Silver prices can fluctuate multiple times within a single day due to market dynamics, currency exchange rates, and other economic factors.
- Is silver a good investment in Pakistan?
- Silver is considered a viable investment option, especially during economic uncertainties. However, potential investors should conduct thorough research and consider market trends before investing.
Conclusion
Staying informed about the latest silver rates is crucial for investors, jewelers, and consumers in Pakistan. Given the metal’s price volatility, regular updates and market analysis are essential for making informed purchasing or investment decisions. For the most accurate and up-to-date information, it’s advisable to consult reputable sources or local Sarafa markets.
Note: Silver prices are subject to rapid changes due to market conditions. The rates mentioned above are based on available data as of December 16, 2024. For real-time updates, please refer to local market sources or financial news outlets.
