The silver market in Pakistan experienced another downturn on Monday, March 16, 2026, as prices of the precious metal continued to fall in line with international trends. This marks the fourth consecutive trading day that silver rates have declined domestically, signaling persistent bearish momentum influenced by global economic factors. The drop in silver prices comes amid a broader retreat in the international bullion market, where investor appetite for safe-haven assets has softened.
Data released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) highlights the ongoing slide in 24-karat silver prices across major cities including Karachi, Lahore, and Islamabad. The association’s figures show that the price per tola has decreased by Rs 100 compared to the previous session, while the rate for 10 grams fell by Rs 86. Specifically, the current market rates stand at Rs 723.60 per gram, Rs 7,236 per 10 grams, and Rs 8,441 per tola, reflecting a notable contraction in value over recent days.
Market experts attribute this downward trend primarily to the strengthening of the US dollar, which has put pressure on silver prices globally. As the dollar gains momentum, commodities priced in the currency typically become more expensive for holders of other currencies, leading to reduced demand. Additionally, shifting investor sentiment away from traditional safe-haven metals like silver has contributed to the price volatility observed in both international and local markets. This dynamic has forced local traders and investors to recalibrate their expectations and pricing strategies accordingly.
It is important to note that while gold has recently captured significant attention due to its record-breaking price surges, silver maintains a unique position in Pakistan’s economy. Beyond its role as an investment asset, silver is extensively used in various industrial applications, making its price movements particularly relevant for manufacturers and consumers alike. The metal’s dual function as both a commodity and a financial asset means that fluctuations in its price can have wider economic implications.
Analysts advise buyers and investors to closely monitor the exchange rate between the US dollar and the Pakistani rupee, as currency fluctuations often have a direct impact on the local pricing of silver. Any significant change in the USD/PKR parity can either amplify or mitigate the effects of global price shifts on the domestic market. Given the current volatility, stakeholders are urged to stay informed and exercise caution when making purchasing decisions in the silver market.
Looking ahead, the silver market in Pakistan is expected to remain sensitive to international economic developments, including monetary policy changes in major economies and global demand trends. As the world navigates through uncertain financial conditions, the price of silver will likely continue to reflect these broader forces, influencing both investors and industrial users across the country.
