Zoya Hashmi Silver rate in Pakistan is the most important topic for those interested in buying it as an investment option for wearing purposes for women. In Pakistan, the silver rate holds significant importance as it directly impacts various aspects of the economy and consumers’ financial decisions. Keeping a close eye on the silver rate helps individuals, investors, and businesses make informed choices regarding their investments, purchases, and trading activities.
Silver has been a part of Pakistan’s history for centuries, used as currency, ornaments, and traditional gifts on various occasions. Over time, its significance evolved, and today 9 May, 2024, it is a prominent investment option for both individuals and institutions. The silver rate in Pakistan, like other commodities, is influenced by both domestic and international factors.
For that reason, you’re going to learn about the Silver rate in Pakistan in this little guide. Also, I’ll tell you other important things about Silver, including the factors that affect its price and its history.
Silver Rate in Pakistan Today 9 May, 2024 | Chandi rate in pakistan
| Silver Type | Rate per Gram | Rate per 10 Grams | Rate per Tola | Rate per Troy Ounce | Rate per Kilogram |
|---|---|---|---|---|---|
| 18K | 162 | 1,624 | 1,894 | 5,051 | 162,392 |
| 21K | 191 | 1,905 | 2,222 | 5,925 | 190,507 |
| 22K | 200 | 1,999 | 2,331 | 6,217 | 199,878 |
| 24K | 219 | 2,186 | 2,550 | 6,800 | 218,621 |
24k Silver Rates By Cities 9 May, 2024
| City | 10 Gram Price | 1 Tola Price |
|---|---|---|
| Karachi | Rs. 2,186 | Rs. 2,550 |
| Lahore | Rs. 2,186 | Rs. 2,550 |
| Islamabad | Rs. 2,186 | Rs. 2,550 |
| Hyderabad | Rs. 2,186 | Rs. 2,550 |
| Multan | Rs. 2,186 | Rs. 2,550 |
| Bahawalpur | Rs. 2,186 | Rs. 2,550 |
| Faisalabad | Rs. 2,186 | Rs. 2,550 |
| Sialkot | Rs. 2,186 | Rs. 2,550 |
| Quetta | Rs. 2,186 | Rs. 2,550 |
| Peshawar | Rs. 2,186 | Rs. 2,550 |
If you’re an investor and have a good budget, we recommend investing in gold, as gold rates in Pakistan are at a mid-level, and you can profit from gold.
History of Silver
Silver has been around for as long as Gold, from 3000 BC. Turkey and Greece had the earliest known mines of silver, and the metal was used to make jewellery, coins, and other things. Many ancient civilizations used silver as currency, including the Roman Empire and Byzantine Empire. Initially, it was primarily used for crafting ornate jewelry, intricate artifacts, and religious offerings.
Although silver is considered as cheapest jewelry, on the other hand, diamond is the most expensive. If someone has a good budget and can afford to buy it, he checks the diamond price in Pakistan and selects the one which seems best for buying.
Silver Ring Price in Pakistan
| Silver Ring | Price in Pkr | Specification |
|---|---|---|
| Designer Silver Ring | Rs. 8000 | Formal Ring, 925 Sterling Silver, Swarovski American Diamond |
| Aura Ring | Rs. 3500 | 16 mm size, 100% Pure Silver, Handmade crafted |
| Essence of Amethyst | Rs. 2200 | 19 mm size, Purple Color, 925 Silver |
| Aquamarine Dangle | Rs. 3500 | 17 mm size, Synthetic Aquamarine |
| Vintage Aquamarine | Rs. 3000 | Handmade crafted, Blue Gem color, 16mm size |
Factors Affecting Chandi Silver Rate in Pakistan
We’re going to go over all of these factors one by one to figure out what today’s silver rate is in Pakistan.
- Global demand and supply: Price will go up if demand is high and supply is low. Price stays low if demand is high and supply meets demand.
- Economic Conditions: During the economic downturn, people might turn to silver as a safe haven, so its price goes up. During economic growth, silver’s price may go up because of its industrial use.
- Currency Fluctuations: Fluctuations in the Pakistani Rupee’s exchange rate against the US Dollar can affect silver’s local price. Weaker Pakistani Rupees can lead to higher silver prices.
- Geopolitical Factors: Political instability and geopolitical tensions in major silver-producing or consuming countries can affect silver prices.
- Interest Rates and Monetary Policies: Silver’s price can be indirectly influenced by interest rate changes and monetary policies implemented by central banks.
- Inflation: Inflation lowers the purchasing power of fiat money, leading people to turn to tangible assets such as silver, driving up the price.
- Industrial Demand: The use of silver is widespread, from electronics to photography to solar panels. A variation in industrial demand, especially in emerging markets, can have a significant impact on the price of silver.
- Investor Sentiment: Market sentiment and speculation also affect silver’s price. If investors believe that silver makes an attractive investment, they will buy more of it, causing the price to rise.
- Mining Production: A disruption or change in mining production can have a negative effect on the price of silver.
- Government Policies: The government can affect silver’s availability and price by imposing import/export regulations, taxes, and tariffs.
Conclusion
This blog is all about the silver rate in Pakistan, the second most used jewelry in the country. The price of chandi remains constant but fluctuates when the gold rate in Pakistan changes. Most people buy chandi for themselves or as an investment too. We don’t recommend buying silver as an investment option as we’re not finical experts for silver. There are many top and reliable suppliers in Pakistan from where you can buy chandi rings set at good prices. We recommend visiting your local market in the city and deciding to buy after detailed research.
Frequently Asked Questions
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How often does the silver rate in Pakistan change?
Silver rate in Pakistan changes weekly or depends on market, gold price and currency value.
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How can I invest in silver in Pakistan?
There are several ways to invest in silver in Pakistan. You can purchase physical silver in the form of coins or bars from reputable jewelers or bullion dealers.
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Do we pay taxes on silver in Pakistan?
Yes, like other commodities and investments, silver may be subject to taxation in Pakistan.
