Silver joins gold in record-breaking rally, prices surge in Pakistan

KARACHI: After gold, silver has now reached record highs, both globally and in Pakistan, reflecting a broader surge in precious metals amid ongoing economic uncertainty.

The price of silver on the global market jumped 7.5 per cent to $93 per ounce, marking its highest level in history. International media report that the upward momentum began in 2025, with silver prices climbing over 210 per cent in just 13 months.

In Pakistan, silver prices have mirrored the global trend. Yesterday, the price of silver per tola reached Rs 9,575, setting a new domestic record.

Gold prices continue to hit new peaks as well. The local gold rate surged by Rs 4,300 per tola to Rs 486,162, while 10 grams of gold climbed to Rs 416,805. On the international market, gold per ounce rose $43 to $4,638.

Market analysts attribute the continued rise in both gold and silver to a mix of factors, including surging global prices, volatility in international markets, a weakened Pakistani rupee, and sustained demand from investors seeking safe-haven assets.

Despite record prices, demand for bullion remains robust. However, experts warn that high prices may temper consumer purchases, particularly for weddings and other occasions. Jewelers have voiced concerns that the surge could affect short-term sales, as buyers may delay purchases in anticipation of market stabilization.

As precious metal markets remain volatile, analysts advise investors and consumers to monitor trends closely and exercise caution before making major purchases.