Silver Rate in Pakistan: Today’s Price for 52 Tola of Chandi
As on, Friday, 04 October 2024
Price Per 10 Gram
Rs. 2607
Price Per Tola
Rs. 3040
Price Per 52.5 Tola
Rs. 159807
Price Per Ounce
Rs. 8108
The silver rate in Pakistan fluctuates very often due to various reasons. The lack of accurate information about the silver price makes the investor confused about investing in it. As a result, a question arises in the user’s mind: what is the reliable source for the silver rate in Pakistan?
We provide accurate and up-to-date silver rates collected from authentic sources and concerned Sarafa markets. We aim to help the user about the current market trends to make a better decision about buying or selling silver.
Today Silver Rate in Pakistan in Different Cities
As of today, Friday, 04 October 2024, the silver rate in different cities of Pakistan is 260 per gram and 3040 per tola. It is the same most of the time, but sometimes it can be slightly different in various cities in Pakistan due to local demand, transportation costs, and taxes.
About Silver
Silver is one of the rarest, unique, and highly valued elements used for centuries. In ancient civilizations, silver was mostly used for trade and ornamental purposes. It served as a symbol of riches back then and has upheld its position till now.
Silver is mostly preferred over gold and other precious metals because of its affordable price. If it comes to Pakistani skin tone, silver is the top choice for ladies. Nowadays silver is mostly preferred for jewelry due to its luster and rust-free nature.
The silver rate in Pakistan often fluctuates due to various reasons such as inflation, public demand, USD rate, and currency fluctuations. If you’re considering silver as an investment, stay updated by checking the latest rates on our site.
Who Determines The Silver Rate?
Silver price is determined by the London Bullion Market Association in US dollars and its price is set on every business day at 12 pm GMT. The main reason for fixing the rate of silver is to control its supply and demand.
This process is done through an agreement between the market traders, miners, refiners, and government entities to buy and sell the silver at a fixed rate.
When to Buy Silver
Silver is widely utilized for investment purposes and can only be profitable when done at the right time. but due to frequent changes in its rate, it’s a bit risky. As the rate of silver fluctuates too often, it’s a big problem for investors to decide when to buy or sell the silver.
If we dive deep into the history of the silver price from 1975 to 2023, we observe that in the first quarter of the year, the rate normally goes up, and then during the 2nd quarter of the year, the price usually falls.
The best time to buy silver is summer and the rate usually rises in winter making it the best time to sell the silver. One of the important reasons for buying silver before winter is the wedding season. This causes a surge in Silver rate because of its high demand.
Factors Determining the Rate of Silver
Industrial Demand
During recent years the price of silver surged due to increased silver consumption by industries which led to a question; does industrial demand determine the silver rate? Well Yes! the silver rate aside from inflation, supply, and strength of the dollar is also influenced by industrial demand.
Due to increased industrial production and advancements in technology such as electrical vehicle batteries and renewable energy, silver has become a major industrial metal recently.
The US dollar
Metals like silver are usually traded in US Dollars. The US dollar has an inverse relation with the silver price in Pakistan. As the dollar weakens, people start investing in these metals. As it becomes cheaper for other currencies to buy the same quantity of silver.
Gold prices
Silver is known as gold’s poorer relative as there’s a positive relationship between gold and silver prices. As the rate of gold increases, the silver price also increases. Similarly, when the gold price falls, the silver rate also falls. Check out the gold prices in Pakistan as well.
Economic Conditions
Economic strength or weakness can affect demand for silver thereby affecting its rate. During an economic crisis in a country industrial demand for silver falls due to which the rate of silver falls down. Similarly, poor economic conditions can raise the silver price.
Interest Rate
Interest rates and silver prices have a negative correlation. A fall in the interest rate causes the silver price to rise. Because during these conditions investors tend to start investing in silver. And when interest rates rise, investors start investing in government bonds instead of silver for high returns.
Political Factors
Political tensions and Geopolitical conflicts can cause a rise in the silver price. Investors choose to invest in haven assets like silver during economic uncertainty. This leads to an increase in silver demand, causing its rate to rise.
Inflation
During inflation, investors seek protection by investing in precious metals like silver as their haven. As it is considered a hedge against inflation increasing its demand and price.
Currency Fluctuations
Currency fluctuations can influence the silver rate as silver is priced in dollars. As the dollar weakens, people start investing in silver. Because it becomes cheaper to buy the same quantity of silver in other currencies which increases the demand and rate of silver.
FAQ’s
Conclusion
In conclusion, the silver rate in Pakistan often fluctuates due to various factors such as inflation, industrial demand, the strength of the US dollar, and economic conditions. This volatility can make it challenging for investors to determine the best time to buy or sell silver. However, by staying informed with accurate and up-to-date silver prices from reliable sources, investors can make more informed decisions. Our platform provides these necessary updates, helping you stay with the market trends. Whether you are investing for industrial purposes, or for jewelry, understanding these dynamics is crucial for preserving your investments.