The Chandi Rate in Pakistan today is 2612 for 10 grams while 3047 for 1 tola. Remember, this rate is for 24k silver and can vary based on the purity levels.
Simply put, the chandi rate is the current market price of silver in Pakistani Rupees (PKR), measured per unit of weight. The unit is either gram, tola, or ounce.
Hold on! This is just a glimpse of the current silver rate in Pakistan. Many factors influence this rate, and you should know them whether you are buying, selling, or investing in silver. Read on to estimate the silver rate more accurately!
Chandi Rate in Pakistan Today
Chandi (Silver) Type | Rate/1 gram | Rate/10 gram | Rate/1 tola | Rate/52.5 tola | Rate/1 kg |
24k | 261 | 2612 | 3046 | 159946 | 261200 |
22k | 230 | 2302 | 2685 | 140962 | 230200 |
20k | 221 | 2212 | 2580 | 135450 | 221200 |
18k | 190 | 1902 | 2218 | 116445 | 190200 |
NOTE: All the prices mentioned in the table above are in Pakistan Rupees (PKR). And these can vary (even daily) based on the many factors we have discussed below.
52.5 Tola Chandi Rate in Pakistan
The 52.5 Tola Chandi Rate in Pakistan is 159,946.
Chandi (Silver) Type | Rate/52.5 tola |
24k | 159946 |
22k | 140962 |
20k | 135450 |
18k | 116445 |
What is the Price of 1 Tola Chandi in Pakistan?
The price of 1 tola Chandi in Pakistan is Rs 3046.
Chandi (Silver) Type | Rate/1 tola |
24k | 3046 |
22k | 2685 |
20k | 2580 |
18k | 2218 |
How Much is 1 Tola in Silver?
As of 26 24 August, 1 tola of silver costs around 3046 PKR for 24k purity level. However, if we talk about 2k, 20k, and 18k, the price is 2685, 2580, and 2218, respectively.
Graph of Silver Rates in Last Three Years
In Pakistan, the silver rates are going continuously up (see the graph below). If we take the last three years’ data, the rate was almost 1331.17 PKR on 1 August 2021 for 10 grams of 24k silver. And now, it is 2612 PKR on 23 24 August.
According to the graph, the silver price has increased by 33.99% every year in the last three years. The total overall price increase is approximately 101.97% from 1 August 2021 to 23 24 August.
The reasons for this increase in silver prices in Pakistan are:
- Economic and Political Instability—Unstable political and economic situations can lead to higher silver prices.
- Currency Exchange Rates—Changes in the value of the Pakistani Rupee against other currencies affect silver prices.
- Global Market Trends—International silver prices influence local rates.
- Inflation—Rising prices of goods and services make silver more expensive.
- Demand and Supply—Higher local demand for silver and limited supply push prices up.
- Interest Rates—Increased interest rates impact silver prices.
NOTE: According to the aforementioned statistics and facts, it seems impossible that the prices of silver will drop in the near future. Still, we suggest you discuss with the experts in the market, do thorough research yourself, and find the right time to invest in silver.
Factors Determining Silver Rates in Pakistan
The price of silver, or Chandi as it’s known in Pakistan, is determined by a mix of both the global and domestic factors.
International Silver Prices
The key factor is the global silver market. If the international price increases, the local price also increases.
US Dollar
The exchange rate between the Pakistani Rupee (PK) and other currencies, especially the US Dollar (USD), directly influences the silver rate. If the Rupee depreciates against the Dollar, it leads to higher rates.
Overall Demand
Silver’s global and local industrial applications, such as in electronics, solar panels, and automobiles, impact its demand. In addition, local demands, derived from factors like weddings and festivals, also fluctuate the prices.
Investor Sentiment
Global and local investor sentiment toward silver as a commodity can affect its price, too. For example, if investors perceive silver as a safe commodity or think its rate will go up, its demands will increase, as will the rates.
Import Duties and Taxes
Government policies on import duties and taxes can affect the cost of importing silver. And when the import duties change, they do influence silver’s local price.
Economic Conditions
Economic stability or instability in Pakistan can influence silver prices. During economic downturns, silver may be seen as a safe-haven asset, driving up demand.
Inflation
Inflationary pressures can reduce the rupee’s purchasing power, potentially leading to higher silver prices to maintain its value.
Where to Buy Chandi in Pakistan?
In Pakistan, the best way to buy silver is through the local market, especially for investment purposes. On the other hand, silver jewelry can be bought through both the sellers in the local market as well as online platforms.
TIP: Make sure to check the silver type (24k, 22k, 20k, or 18k) and ask for the rates of each type from multiple sources. You can even bargain on prices in Pakistan, so try this as well. In the end, go for a reliable source that gives you the best prices.
In What Shapes or Forms is Silver Sold?
You can buy silver in many forms in Pakistan, such as:
- Jewelry
- Bars
- Coins
- Bullions
Go for the jewellery, the most common form, if you wear silver. However, if you want to invest in silver, bars, coins, and bullion, they are the best options.
Conclusion
The Chandi rate refers to the current market price of silver in Pakistani Rupees (PKR) per weight unit, such as grams or tolas. As of July 23, 2024, the rate for 10 grams of 24k silver is 2612 PKR, and for 1 tola, it is 3047 PKR.
Factors like economic and political stability, currency exchange rates, global market trends, inflation, demand, and supply influence Silver prices in Pakistan.
Over the past three years, silver prices have risen significantly, with an overall increase of about 101.97% in total. As far as the availability matters, you can buy silver in various forms, including jewelry, bars, coins, and bullion.
FAQs
How Many Grams in One Tola?
One tola is equivalent to 11.66 grams.
Is Chandi a Good Investment Option?
Yes, Chandi (silver) can be a good investment option; its prices are increasing by 33.99% every year in the last three years. It seems to retain value and save you against inflation. Still, consider market trends and economic factors before investing.
How Often Do Silver Rates Change?
Silver rates can change daily based on various factors, such as global market trends, currency exchange rates, and local demand and supply conditions.
How Can I Verify the Purity of Chandi?
You can verify the purity of Chandi by looking for a hallmark stamp, which indicates its purity level (e.g., 24k, 22k, 20k, or 18k). Additionally, you can have it tested at a reputable jeweler or use a silver testing kit to test it yourself.
What is the Best Time to Buy Silver?
The best time to buy silver is when prices are low. It typically happens during periods of economic stability or when there is less demand. Keep an eye on the silver prices on a daily basis and consult with the experts to make the right decision.