Today Silver Rate in Pakistan is Rs. 1,499 per 10 grams, while the per tola Chandi Price is Rs. 1,746 per tola. These are live prices from the local Gold and Silver markets.
Silver, similar to gold, is a precious metal. Even if the importance of silver is nowhere near that of gold, its value cannot be overlooked due to its wide range of applications. The price difference between gold and silver is enormous, which is why many individuals with average incomes prefer to buy or invest in silver.
Aside from that, some people find silver more appealing or eye-catching than gold. With changing design trends in recent years, silver jewellery has become something of a wedding fashion statement in Pakistan, resulting in a massive increase in the buying of silver jewellery.
One could believe that silver is only available in the form of jewellery, which one can buy or sell, but you are not limited to having silver in the form of jewellery; there are other types of silver investment. Silver is available in bars, coins, and bullions, which can be purchased as an investment from the market’s most recognised commodities markets, which are located in the United States, Japan, Europe, and London. You can also buy and sell silver on your local market, but you may not obtain the highest returns on your investment.
Silver Rate in Pakistan
Today’s silver rate in Pakistan is Rs. 1,499 for 10 Grams and Rs. 1,746 for 1 Tola. These are live prices from the local gold and silver markets. The London Bullion Market Association, large banks, and bullion traders decide the global price of silver. Other market considerations, such as supply and availability, can impact prices. If the supply of silver on the international market is limited, Pakistani traders must purchase it at exorbitant rates, increasing the cost to purchasers and investors in Pakistan.
Our currency has been quite weak compared to the currencies of countries that primarily trade silver, such as the United States, Europe, and London. It is one of the key reasons why Pakistani customers cannot experience the lowest silver prices compared to consumers from other nations.
Before 2009, the price of silver in Pakistan was stable below 1,000 PKR per ounce. Still, due to ongoing political and economic uncertainty and rising currency exchange and interest rates, the price of silver has continued to grow since then. The price of silver reached 4,000 PKR per ounce in mid-2011 but has subsequently fallen.
In the market, the price of silver is also correlated with the price of gold. Both have a linear proportional relationship in which an increase in one’s price induces an increase in the other’s expense. Though it appears unlikely that silver prices will fall dramatically in the future, it is strongly urged that anyone interested in investing in silver do so when global silver rates are stable.
Silver Rates in Pakistan: Factors to Consider
The following are a few of the factors influencing the fluctuation of silver prices in Pakistan:
- The supply and demand for silver in the Pakistani market significantly impact its price. Because supply is considerably lower than in international markets, merchants charge far more than the actual value.
- Silver was once widely used in photography, but as modern techniques have reduced its use, its demand in the field has decreased, contributing to a fall in availability in Pakistan.
- Pakistan’s per capita income has declined since the country’s economic growth has been less than desirable. Some fewer people can afford silver, causing prices to rise.
- The price of silver is inextricably linked to the price of gold. As the price of gold rises, so does the price of silver.
- The central bank’s interest rates impact the price of silver. Silver becomes unattainable as interest rates rise.
Regardless of how high or low, its value fluctuates, silver remains a source of investment. If you intend to invest in silver, consider the security it will bring. All you have to do is look for the best deals or bargains whenever they are available. Aside from that, the price of acquired silver will steadily rise.