Silver is a precious metal with the symbol Ag and atomic number 47. Deeply rooted in Pakistani traditions, silver is widely used in jewelry, ornaments, and artifacts.
Moreover, it’s seen as a safe haven asset, offering protection against economic uncertainties. The industrial sector’s growth further fuels silver demand, as it’s essential in electronics, solar panels, and medical equipment.
Silver prices in Pakistan are influenced by global market trends, the exchange rate, government policies, and domestic supply and demand. Factors like speculation and seasonal demand can cause price volatility.
Read More: Gold rates in Pakistan today – August 16, 2024
On August 16, 2024, Silver rate of 10 grams was recorded at Rs2,551 while one tola was sold at Rs 2,972. As reported by the London Bullion Market Association, Silver prices have witnessed fluctuation following currency movement, the rupee, against the US Dollar.