KARACHI – Price of silver soared to $60 per ounce for the first time ever amid supply issues and skyrocketing demand. This historic milestone has investors and traders buzzing, as silver cements its role as both a valuable commodity and a safe-haven asset.
In Pakistan, the price of silver is influenced by a complex mix of factors, including international supply and demand, the value of Dollar, inflation trends, public demand, and government policies.
A key benchmark in the local market is 57.5 tola silver, a historically standard weight for silver jewelry. Most silver ornaments in Pakistan are crafted according to this weight and quality standard, making its price closely watched. While silver rates may vary slightly across different cities, daily updates in local currency keep investors informed and alert.
But silver’s significance goes beyond jewelry as it is increasingly seen as a strategic investment. Experts highlight several compelling reasons to consider silver as part of an investment portfolio: As prices rise, silver often follows suit, offering protection for investors against the eroding effects of inflation.
Although short-term price swings are possible, silver has a proven track record as a reliable long-term investment. While gold remains a traditional safe-haven, silver’s price movements are generally less volatile, making it an attractive alternative for cautious investors.
Gold ends week in Pakistan with Rs2,300 dip as Per Tola Rate slips to Rs442,162
