The Pakistan Mercantile Exchange (PMEX) has officially suspended silver trading following an unprecedented price explosion that sent the “white metal” soaring past Rs11,000 per tola.
The sudden move aims to curb “abnormal market conditions” and protect investors from extreme volatility that has gripped the domestic bullion market.
Emergency Measures and Settlement
In a formal notification, the PMEX announced that all silver contracts executed before 10:30 pm on the night of the surge would be settled at prevailing market rates.
To prevent further chaos, the exchange has summarily cancelled all remaining buy orders. Adnan Agar, Director of Interactive Commodities, noted that silver has become exceptionally volatile, moving between $8 and $12 in a single day—a fluctuation of up to 15%.
Resumption in Limbo
Authorities have indicated that trading will not resume until the market shows signs of stabilization. The suspension is considered one of the most significant disruptions in the history of Pakistan’s commodity markets.
Experts warn that the current rally is largely driven by speculation rather than physical demand, creating a risky environment for retail clients.
