Silver Becomes High-Demand Investment in Pakistan Amid Soaring Prices
Silver Becomes High-Demand Investment in Pakistan Amid Soaring Prices
Silver, once regarded as a common and affordable metal, has emerged as a high-demand commodity in Pakistanโs investment market. Over the past three months, both the price and consumption of silver have more than doubled, making it a preferred choice among investors.
Traders report that silver is now even being sold on the black market, with buyers rushing to acquire the metal as prices continue to climb.
People Buying Silver by Kilo
Market experts note that silver, previously sold in small quantities, is now being purchased in 10-tola bars and even one-kilo bricks.
โYou may be surprised to hear that people are now buying silver like cars โ in large quantities and with advance payments,โ said Muhammad Haroon Linden, a local broker in Karachi.
Jeweler Fazal Habib confirmed this trend, adding that money is being exchanged for silver similar to high-value items. Another jeweler, Muhammad Iqbal, described the buying frenzy as unprecedented in recent years.
Global Demand Driving Prices Higher
Analysts attribute the surge in silver prices to rising global demand, particularly from China, India, and European countries, which are purchasing more silver than usual.
Experts also point out that silverโs industrial use has grown significantly, especially in electric and electronic products, where it is increasingly replacing platinum due to its lower cost. This global shift has made silver one of the most sought-after metals, driving local prices to record levels.
Inside Karachiโs Silver Market
A trader in Karachiโs bullion market explained, โThis bar in my hand is raw silver. Its current value is Rs5,850. From this bar, silver biscuits, 10-tola bars, and one-kilo bricks are produced. After adding manufacturing, stamping, and guarantee costs, the price has now reached Rs6,400 per tola.โ
The rapid price increase has made silver a lucrative yet risky investment, with traders describing it as a โgame of patience.โ
Is Investing in Silver a Wise Move?
Experts and goldsmiths caution that while silver prices are rising sharply, it remains a long-term investment that requires patience and market stability.
โSilverโs demand in technology and manufacturing is increasing, but itโs not a get-rich-quick investment,โ said one trader. โIt rewards those who hold it for the long run.โ
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