The price of silver in Pakistan settled around Rs. 7,980 per tola on Sunday, showing a sharp correction after a brief spike recorded a day earlier. According to bullion market dealers, rates are issued by the Karachi Sarafa Bazaar and may vary slightly across major cities including Lahore and Islamabad.
Silver Rates in Pakistan (15 Feb 2026)
| Weight | Rate (PKR) |
| Per Tola | Rs. 7,980 |
| Per 10 Grams | Rs. 6,849 |
| Per 1 Gram | Rs. 684.9 |
Jewellers say retail rates may differ by a few rupees depending on transportation cost, demand and local market margins.
Sharp Drop After Volatility
Silver experienced significant fluctuations over the past 48 hours. Market sources reported prices touching nearly Rs. 10,603 per tola on February 14, driven by sudden global commodity movement and speculative trading. However, the market corrected quickly on Sunday as international prices cooled and local buying slowed.
Bullion traders noted that such rapid swings are becoming more frequent due to global economic uncertainty and increased investor activity in precious metals.
“The market reacted to overnight global movements. Once international silver stabilized, local prices adjusted downward,” said a Karachi bullion dealer.
Global Prices Driving Local Market
Pakistan’s silver rates closely track the international spot market. Currently, silver is trading near $77–$78 per ounce in global markets. Any change in the US dollar index, inflation outlook, or interest rate expectations directly affects domestic bullion pricing.
Key global factors influencing silver today:
- Dollar strength and US interest rate outlook
- Industrial demand (especially electronics and solar panels)
- Safe-haven demand during economic uncertainty
- Commodity fund speculation
Because Pakistan imports precious metals, the rupee-dollar exchange rate further amplifies price movement locally.
Link Between Gold and Silver
Silver often follows the direction of gold in Pakistan’s bullion trade. With gold trading above Rs. 518,000 per tola, investors frequently shift toward silver as a more affordable alternative.
Analysts say when gold becomes expensive, small investors and jewellery buyers turn to silver, increasing its demand and price sensitivity.
City-Wise Variation
Although Karachi sets the benchmark, slight differences occur nationwide:
- Karachi: Base market rate
- Lahore: Usually a few rupees higher due to transport and demand
- Islamabad/Rawalpindi: Minor premium depending on retail margins
The variation typically remains within Rs. 20–50 per tola.
Market Outlook
Experts expect continued volatility in silver during the coming week due to:
- Uncertain global economic data
- Currency fluctuations
- Investment demand in precious metals
If international prices remain near current levels, silver may stabilize between Rs. 7,700 and Rs. 8,200 per tola in the short term. However, any major move in gold or the dollar could trigger another sharp change.
What Buyers Should Know
Jewellers advise consumers to monitor daily rates before making bulk purchases, especially for wedding jewellery and investment coins. Unlike gold, silver reacts faster to global industrial demand, making short-term price swings more common.