The current silver rate in Pakistan for every 10 grams, and per tola of chandi are given below in the table. These prices are live and are given by the local gold and silver markets.
Today Silver Rate In Pakistan – Daily Chandi Rate in Pakistan
| Location | 10 Grams | 1 Tola |
|---|---|---|
| Pakistan | Rs. 2,100 | Rs. 2,446 |
| Karachi | Rs. 2,100 | Rs. 2,446 |
| Lahore | Rs. 2,100 | Rs. 2,446 |
| Islamabad | Rs. 2,100 | Rs. 2,446 |
| Rawalpindi | Rs. 2,100 | Rs. 2,446 |
| Peshawar | Rs. 2,100 | Rs. 2,446 |
| Quetta | Rs. 2,100 | Rs. 2,446 |
Last Updated: 8-January-2024 at 5:32 PM
Silver Price in Pakistan
Silver is another precious metal, though not as valuable as gold. However, due to its diverse uses, we can’t overlook its significance. The price of silver is much lower than that of gold, making it a popular choice among people with average incomes.
Some individuals also find silver more attractive than gold. Changing fashion trends have turned silver jewelry into a wedding fashion statement in Pakistan, leading to a surge in its purchase.
But silver isn’t just limited to jewelry. It can also be obtained in the form of bars, coins, and bullions, which are popular investment choices. These forms of silver can be bought from renowned commodities markets around the world.
While you can also buy and sell silver locally, the deals may not always be the most advantageous for your investment.
Chandi Prices in Pakistan
Today’s July 3, 2024 silver prices in Pakistan are for 10 grams and for 1 tola given above in the table. These live prices are provided by local gold and silver markets. The price of silver globally is determined by organizations like the London Bullion Market Association, along with larger banks and bullion traders.
Other factors, such as supply and availability, also impact silver prices. If silver is in short supply internationally, Pakistani traders have to buy it at higher rates, resulting in higher costs for buyers and investors in Pakistan.
Due to our weaker currency compared to countries that primarily trade silver, like the United States, Europe, and London, Pakistani buyers can’t enjoy minimal silver prices. Before 2009, silver was stable at prices below 1,000 PKR per ounce.
However, due to ongoing political and economic instability, increasing currency exchange rates, and interest rates, the price of silver in Pakistan has been rising since then. The price even crossed 4,000 PKR per ounce in mid-2011, but fortunately, it has been decreasing since.
Silver prices are also linked to gold prices, with a direct relationship. If one price goes up, the other usually follows.
While it may be unlikely for silver prices to drop significantly in the future, it’s wise to invest at the right time when global silver rates stabilize.
What Affects Silver Prices in Pakistan
There are several reasons that lead to changes in silver prices in Pakistan. Let’s take a look at some of these factors:
- Supply and Demand: The supply and demand of silver in the Pakistani market greatly influence its price. Due to limited supply, traders often charge more than its actual value.
- Changing Use: In the past, silver was heavily used in photography. However, newer photography techniques have reduced its use, leading to less demand in this sector and contributing to lower supply in Pakistan.
- Economic Growth: Pakistan’s economic growth hasn’t been very strong, resulting in decreased per capita income. Fewer people can afford silver, which directly causes its prices to rise.
- Gold Price Connection: The price of silver is somewhat connected to the price of gold. When gold prices increase, silver prices tend to follow.
- Interest Rates: The interest rates set by the central bank impact the price of silver. Higher interest rates can make silver harder to obtain.
- Investment Potential: Silver remains an investment option regardless of its value. If you plan to invest in silver, consider the security it can offer. Look for the best deals available, as the price of purchased silver will likely continue to rise.
