Silver prices in Pakistan today – 23th February, 2026

Silver continues to hold its place as one of the most closely watched precious metals in Pakistan. On 23th February, 2026, silver prices across the country reflect ongoing global market movements, currency fluctuations, and domestic demand from jewelers and investors alike. Whether you are a trader, a jeweler, or a small investor looking to diversify, understanding today’s silver rate is crucial for making informed decisions.

Silver Rate in Pakistan – 23th February, 2026

As of today, the average silver prices in major cities including Karachi, Lahore, and Islamabad are approximately:

Silver per tola: Rs. 2,750 – Rs. 2,900

Silver per 10 grams: Rs. 2,360 – Rs. 2,490

Silver per kilogram: Rs. 236,000 – Rs. 249,000

(Note: Prices may slightly vary depending on city, dealer margins, and purity level.)

Silver in Pakistan is typically traded in 24K purity for bullion and investment purposes. However, jewelry often uses slightly lower purity levels depending on design requirements.

What Is Driving Silver Prices Today?

Silver prices in Pakistan are influenced by both international and domestic factors. Unlike gold, silver has strong industrial demand alongside its investment appeal, making it more volatile in certain market conditions.

1. International Market Trends

Globally, silver prices are primarily determined by international commodity exchanges such as the London Bullion Market Association (LBMA) and trading platforms like the COMEX. Any movement in global spot silver prices directly impacts Pakistani markets after currency conversion.

This week, international silver prices have remained relatively stable, hovering within a narrow trading range. Analysts attribute this to steady industrial demand and moderate inflation data from major economies.

2. USD to PKR Exchange Rate

The Pakistani Rupee’s performance against the US Dollar significantly affects precious metal pricing. Since silver is traded internationally in dollars, any depreciation of the rupee pushes local prices upward—even if global silver prices remain unchanged.

Today’s relatively stable rupee has helped keep silver rates from experiencing sharp upward spikes.

3. Local Demand and Wedding Season

Silver jewelry demand in Pakistan traditionally increases during wedding seasons and festive occasions. Compared to gold, silver offers affordability while still maintaining cultural and aesthetic appeal.

In recent weeks, jewelers have reported moderate buying activity, especially in urban markets. This steady demand has supported prices despite limited global movement.

Silver vs Gold: A Growing Investment Alternative

While Gold remains the dominant precious metal in Pakistani households, silver is gradually gaining attention as an accessible investment option.

Silver offers:

Lower entry cost compared to gold

Higher price volatility (potential for larger percentage gains)

Industrial demand support

Portfolio diversification benefits

For small investors who cannot afford gold bars or multiple tolas of gold, silver presents a practical alternative. Many investors today prefer purchasing silver bars in 100-gram, 250-gram, or 1-kilogram denominations.

Industrial Demand Supporting Prices

Unlike gold, silver has significant industrial applications. It is widely used in:

Solar panels

Electronics

Medical equipment

Electric vehicles

As global green energy initiatives expand, silver demand from solar panel manufacturers has steadily increased. This industrial backing provides a strong long-term price floor for silver, even during periods of weak investment demand.

Pakistan imports most of its silver, meaning global production trends and mining output also influence domestic availability and pricing.

Is Silver a Good Investment in 2026?

With inflation concerns still lingering globally and currency volatility affecting emerging markets, silver remains an attractive hedge asset.

Here are some reasons why investors are considering silver in 2026:

✔ Inflation Hedge

Precious metals historically protect purchasing power during inflationary cycles.

✔ Affordable Asset Accumulation

Silver allows gradual investment accumulation compared to gold.

✔ High Liquidity

Silver bullion and jewelry can easily be bought and sold in major Pakistani cities.

However, investors should also consider risks:

Price volatility

Dealer premiums

Storage concerns for large quantities

Experts suggest adopting a balanced strategy—allocating a small percentage (5–15%) of a portfolio to precious metals, including silver.

City-Wise Price Variations

Although national rates are similar, minor differences can appear across major cities:

Karachi: Often reflects international rates fastest due to its status as Pakistan’s financial hub.

Lahore: Strong jewelry demand influences local premiums.

Islamabad: Slightly higher retail margins in some markets.

Local sarafa (bullion) markets determine final retail prices, factoring in transportation and dealer commission.

Short-Term Outlook

Market analysts believe silver may remain range-bound in the short term unless there is:

A major shift in US monetary policy

A significant move in the US Dollar index

Escalation in geopolitical tensions

Should global inflation re-accelerate, both gold and silver could witness renewed buying interest. Conversely, strong economic growth and higher interest rates may limit upside momentum.

For Pakistani buyers, monitoring both international silver charts and the USD/PKR exchange rate remains essential.

Tips Before Buying Silver in Pakistan

If you are planning to buy silver today, consider the following:

Check purity certification – Always verify 24K or stamped purity.

Compare dealer prices – Small differences can matter in bulk purchases.

Understand making charges – Jewelry includes additional labor costs.

Consider storage safety – Especially for large bullion holdings.

Monitor global trends – International price movements impact local rates daily.

Final Thoughts

On 23th February, 2026, silver prices in Pakistan remain steady with moderate fluctuations influenced by global markets and local currency stability. As an affordable precious metal with both industrial and investment demand, silver continues to attract attention from a wide range of buyers.

Whether you are purchasing silver for jewelry, gifting, or long-term investment, staying informed about daily price movements and market trends can help you make smarter financial decisions. With evolving economic conditions in 2026, silver remains a metal worth watching closely in Pakistan’s precious metals market.