Karachi Silver Prices Reverse After Five-Session Rally

Karachi silver prices have reversed their recent gains and fallen below Rs. 6,900 per tola. The decline comes after five consecutive sessions of increases pushed domestic silver prices close to the key Rs. 7,000 per tola mark.

The price of 24-karat silver per tola fell by Rs. 113, settling at Rs. 6,826, according to the All Pakistan Sarafa Gems and Jewellers Association. The association also reported that the price of 24-karat silver per 10 grams declined by Rs. 97, settling at Rs. 5,852.

The drop in global silver prices was reflected in Pakistan's bullion market, with Karachi silver prices declining across all major categories. International silver prices fell by $1.13 to settle at $63.47 per ounce, reversing some of the recent gains in the global precious metals market and putting downward pressure on domestic silver rates.