Today Silver Rate In Pakistan - Daily Chandi Rate in Pakistan

Silver Rate in Pakistan

Another precious metal besides gold is silver. Though the importance of silver is nowhere near gold but still, given on the basis of its wide range of uses, the importance of silver cannot be given a blind eye to. The price difference between gold and silver is massive which is one of the reasons why many average income people prefer buying or investing in silver. Other than that, some people just find silver more appealing or eye catching in comparison to gold. With changing fashion trends in recent times, silver jewelry became sort of a wedding fashion statement in Pakistan that caused an immense rise in the purchase of silver jewelry.

One might think that silver is just available in the form of jewelry that one can purchase or sell but no, you are not just restricted to have possession of silver in the form of jewelry, there are other forms of silver investment as well. Silver is available in the form of bars, coins and bullions that one can purchase from the perspective of an investment from the most famous commodities market located in United States, Japan, Europe and London. You can also purchase or sell silver in your local market but you might or might not get the best deals on your investment.

Rates in Pakistan

Today Silver Rate in Pakistan is Rs. 1,399 for 10 Grams, and Rs. 1,631 for 1 Tola. These Prices are Live prices, provided by the local Gold and Silver markets. Price of silver worldwide is determined by London Bullion Market Association, larger banks and bullion traders. Some other factors also have an impact of prices like its supply and availability in the market. If the supply of silver is short in the international market, Pakistani traders have to purchase it on high rates due to which it costs more to buyers and investors in Pakistan as well. Our currency has been pretty weak in comparison to the currency of countries that mainly trade silver like United States, Europe, London etc. It is one of the major that Pakistani buyers could not enjoy minimal prices of silver as compared to buyers of other countries.

Before 2009, the price of silver was stable below 1,000 PKR per ounce but due to the constant political and economic instability and increasing currency exchange and interest rates, the price of silver in Pakistan has kept on increasing since then. The price of silver crossed 4,000 PKR per ounce in mid 2011 but fortunately it has been decreasing since then. The price of silver is also correlated to price of gold in the market. Both have a directly proportional relationship where increase in one’s price causes increase in another’s price as well. Though it seems impossible that prices of silver would drop drastically in future, it is highly advised that one who wishes to invest in silver, purchases it at the right time when global silver rates are stable.

Factors Determining Silver Rates in Pakistan

Below are few of the reasons that have an impact of changing silver prices in Pakistan;

• The supply and demand of silver in Pakistani market, largely impacts its price. Since supply is considerably less than international markets, traders charge a lot more than the actual worth.
• Silver had a massive use in photography in the past but as newer techniques in photography have led to decrease in use of silver, its demand in the respective sector has lessened contributing to less supply in Pakistan.
• Since the economic growth of Pakistan has not been much satisfactory, per capita income has decreased. There are lesser people who can afford silver which directly causes prices to go up.
• Price of silver is somehow tied to price of gold. As price of gold goes up the price of silver follows.
• Interest rates imposed by central bank have an impact on the price of silver. Greater interest rates make silver unobtainable.

Silver is still a form of an investment no matter how high or low its worth gets. If you have a plan of investing in silver then think of the security it will provide you. You just have to pick up the best deals or bargains whenever available. Other than that, price of purchased silver will notably keep on increasing.