Silver Rate in Patna

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Silver Price in Patna

Popularly referred to as ‘poor man’s gold’, silver or precious white metal is highly sought-after by millions across India including Patna. Silver is bought in many forms from silverware and jewellery to artifacts and articles associated with rituals in Patna. Many consumers in Patna present silver gift articles during weddings given that the precious metal is believed to bring in good luck.

While the upper middle-class and affluent sections of society in Patna may have the resources to buy the yellow metal, the middle-class and lower middle-class segments seek the precious metal as a valuable asset. Many small investors in Patna buy silver given that it is more accessible and affordable than the yellow metal.

Trend of Silver Rate in Patna for November 2018 (rates per kg)

Trend of Silver Rate in Patna for October 2018 (rates per gram)

Trend of Silver Rate in Patna for September 2018 (rates per gram)

Trend of Silver Rate in Patna for August 2018 (rates per gram)

August 2018 - Week 1 (1 - 5):

• The precious metal started trading at Rs.41,400 per kg on 1 August 2018 in Patna. On the first day of the month, the highest silver rate for the month of August was recorded in Patna. This was because of the high demand for the metal.
• On 2 August, as the demand for the metal declined from local coin makers and domestic players, the price of the precious metal fell. On this day, silver was priced at Rs.41,100 per kg.
• The price of the metal remained unaffected on 3 August. After remaining stable for one day, the price of the metal rose by Rs.200 per kg as the demand picked up on 4 August.
• The month ended with silver trading at Rs.41,300 per kg on 5 August.

August 2018 - Week 2 (6 - 12):

• The price of the precious metal was on the decline throughout the second week of August as the industrial demand for silver fell.
• Silver opened at Rs.41,300 per kg on 6 August.
• On 7 August, the US released their employment data which indicated a positive effect on their economy. This caused the price of the metal in Patna to fall. On this day, the precious metal traded at Rs.41,200 per kg.
• On 9 August, the metal recorded the highest silver rate one more time in Patna when silver traded at Rs.41,400 per kg.
• As the demand for silver fell sharply, silver prices quickly fell on 10 August and traded at Rs.41,100 per kg.
• Throughout the month of August, demand for the metal played a crucial role in determining silver prices in Patna.
• The precious metal traded at Rs.41,200 per kg.

August 2018 - Week 3 (13 - 19):

• Silver continued to trade at Rs.41,200 per kg when the week started on 13 August.
• On 14 August, the price of the metal fell significantly and traded at Rs.40,900 per kg.
• On 15 August, silver prices increased and traded at Rs.41,100 per kg.
• However, the prices quickly fell to Rs.39,900 per kg on 16 August due to weak overseas trends and muted domestic demand.
• Silver prices remained stable and continued to trade at Rs.40,000 per kg from 17 to 19 August.

August 2018 - Week 4 (20 - 26):

• On 20 August, silver was trading at Rs.40,000 per kg in Patna.
• The price of the metal in Patna increased by Rs.100 per kg and traded at Rs.40,100 on 22 August.
• Silver rates fell drastically and traded at Rs.39,900 on 23 August as the value of the US dollar increased compared to other currencies.
• On 24 August, the metal recorded the lowest silver rate in Patna and traded at Rs.39,800 per kg.
• During the last few days, the price of the metal increased and closed at Rs.40,200 per kg on 26 August.

August 2018 - Week 5 (27 - 31):

• Silver continued to trade at Rs.40,200 per kg as the industrial demand for the metal was stable.
• As the retail demand for the metal picked up on 28 August, silver prices increased and traded at Rs.40,400 per kg.
• As the value of the US dollar started recovering, silver prices fell marginally during the last two days of the month and closed at Rs.40,300 per kg.
• Overall, the silver rates in Patna fell by 2.65% over the course of the month.

Trend of Silver Rate in Patna for July 2018 (rates per kg)

July 2018- Week 1 (1-10)

• As the intake of silver was high in Patna, the metal traded at  Rs.42,800 per kg on 01 July 2018.
• Though the silver rates remained stable on 02 July, a slight dip was noted on 03 July when the selling price of silver dropped to Rs.42,400 per kg. The Rs.400 per kg dip was mainly due to poor demand from coin makers and local jewelers.
• However, the price of the metal in the city rose to Rs.42,800 per kg and remained stable for the next few days.
• On 9 and 10 July, silver rates in the city increased to Rs.42,900 per kg as the demand picked up. This was the highest silver rate recorded for the month of July in Patna. The hike could also be because of positive market trends clubbed with declining dollar rates over other currencies.

July 2018- Week 2 (11-17)

• As demand for silver is directly proportional to silver rates, the price of the metal fell by Rs.300 per kg and traded at Rs.42,600 per kg on 11 July due to poor demand.
• As the demand for silver from industrial units fell further, silver rates continued to dip and traded at Rs.42,200 per kg from 12 to 14 July.
• A slight increase in silver rates was noted on 16 July when the metal traded at Rs.42,300 per kg. Though it was not a significant hike, experts believe it was due to the increase of silver intake in the city that caused the hike.
• Silver further dipped and closed at Rs.42,100 per kg on 17 July.

July 2018- Week 3 (18 - 24)

• Compared to the previous week, the prices of silver saw a downward curve this week. On 18 July, silver rates dropped by Rs.400 per kg and opened at Rs.41,700 per kg. This can be associated with decreased industrial demand for silver during the same time.
• As the value of the dollar in comparison with other currencies rose on 20 July, silver price in Patna dropped to  Rs.41,300 per kg.
• However, as demand for the metal increased, silver was traded at Rs.41,700 per kg on 21 - 22 July in Patna.
• On 24 July, silver closed at Rs.41,400 per kg.

July 2018- Week 4 (25 - 31)

• An increase of Rs.100 per kg was noted on 25 July when silver was traded at Rs.41,500 per kg.
• Due to the decline of dollar value, silver prices spiked on 26 July to Rs.41,800 per kg. However, due to poor demand, silver rates dropped in the following days.
• As on 28 - 29 July, the price of silver stood at Rs.41,200 per kg. This was the lowest silver rate recorded for the month of July in Patna.
• Silver closed at Rs.41,400 on 30 - 31 July.
• Overall, silver rates in Patna for the month of July fell by 3.27%.

Trend of Silver Rate in Patna for June 2018 (rates per kg)

June 2018- Week 1 (1-10)

• Demand for silver fluctuated in Patna in the first week of June, with the metal opening the week at Rs.42,800 per kg on stable demand from industrial units.
• The upcoming summit between the United States and North Korea led to a rally by the dollar, which led to a drop in demand for silver prices to Rs.42,600 per kg on 2 June.
• Local industrial offtake fluctuate based on the dollar rate, as the rupee fell heavily against the dollar for most of the week.
• Prices did not see any change for the rest of the week as silver ended the week priced at Rs.43,700 per kg on 10 June.

June 2018- Week 2 (11-17)

• The dollar rate continued to rise after the success of the summit, but silver prices rose on strong industrial demand.
• The industrial metal opened the second week at Rs.43,900 per kg on 11 June on renewed interest from coin makers.
• Silver price in Patna jumped to Rs.44,000 per kg on 12 June as volatility across currency markets led to a rise in demand for safe-haven assets.
• Prices rose to Rs.45,000 per kg on 15 June as the dollar plunged on fears of an escalating trade crisis.
• Prices stabilised as the week ended on steady trading, with silver priced at Rs.44,300 per kg on 17 June.

June 2018- Week 3 (18-24)

• Silver in Patna opened at Rs.43,400 per kg on 18 June as prices fluctuated on unstable market conditions after the sudden drop in the dollar rate.
• Demand began to fall as equity markets recovered on positive investor sentiment and favourable industrial data from the U.S.
• Prices dropped to Rs.42,900 per kg on 21 June on a high rate of short-selling, aas investors offloaded bullion before a possible interest rate hike.
• As silver rate in Patna continued to fall, local industrial demand also plummeted, though overseas demand was stable due to steady orders from Asian industry.
• There was some fluctuation in prices towards the end of the week, though silver did not see much change in price.

June 2018- Week 4 (25-30)

• The last week of June saw a steady decline in silver price in Patna due to poor demand from industrial units, as both local and overseas markets reduced bullion offtake.
• The industrial metal was priced at Rs.43,200 per kg when trading opened on 25 June, with local coin makers reducing offtake due to the rising dollar rate.
• The strengthening dollar and bullish equity markets coupled with overseas trends led to silver prices falling to Rs.43,100 per kg on 26 June.
• The Federal Reserve meeting and the possibility of an imminent interest rate hike led to increased pressure on bullion, resulting in silver rate in Patna tumbling to Rs.42,800 per kg on 29 June.
• There was no change in price as the month ended, with silver remaining unchanged from the month’s opening price.
• Demand was unchanged due to market forces that led to silver ending at the same price it opened.

Trend of Silver Rate in Patna for May 2018 (rates per kg of silver)

May 2018- Week 1 (1st - 6th)

• The month began with silver priced at Rs.42,000 per kg in Patna as demand for silver was stable as a result of steady orders from industrial units.
• Political conditions such as trade tensions between the U.S., and China as well as the U.S.-North Korea summit led to equity markets performing poorly, which led to higher demand for safe-haven assets like bullion.
• Silver price in Patna rose to Rs.42,600 per kg on 3 May before declining orders led to a marginal drop in prices.
• A rise in the dollar rate as well as stable economic markets locally led to silver prices falling to Rs.41,100 per kg on 6 May.

May 2018- Week 2 (7th - 13th)

• The second week saw demand for silver rise marginally due to wildly fluctuating equity markets and currency markets.
• The week began with silver trading at Rs.43,200 per kg on 7 May due to steady demand from industrial as well as retail sectors.
• Tensions between the U.S. and North Korea dominated equity market predictions and led to profit-booking by some investors.
• Demand rose in spite of a steady dollar ahead for talks between the United States and North Korea, which also had Asian stocks trading high.
• Silver price in Patna continued to rise for the rest of the week as currencies also plunged.
• Local demand was steady but demand vagaries led to the industrial metal trading at Rs.43,600 per kg on 13 May.

May 2018- Week 3 (14th - 20th)

• Silver price in Patna rose to Rs.43,600 per kg as the third week began as investors assessed the impact of the upcoming summit between the U.S. and North Korea.
• Overseas demand for the industrial metal was quite high as markets were low and the dollar rate was poor, resulting in increased demand for bullion.
• Silver fell to to Rs.43,000 per kg on 16 May as local industrial demand increased on positive market cues and futures buying.
• Silver rate in Patna were high for most of the week as international cues bolstered local demand and kept prices steady.
• Silver ended the week priced at Rs.43,100 per kg on 20 May.

May 2018- Week 4 (21st - 27th)

• Demand for silver was steady but there was a drop in the industrial metal’s value over the fourth week of May.
• The outcome of the Fed Reserve meeting and U.S. industrial data due to be released led to investors being more bullish as interest in bullion fell.
• Silver opened the week at Rs.43,100 per kg on 20 May after an early rally but prices dropped on poor demand for the rest of the week.
• As tensions between China and the U.S. appeared to be easing, equity markets and the dollar rose, leading to lower imports of silver.
• Silver price in Patna rose to Rs.43,500 per kg on 23 May before continuing to rise on positive demand cues

May 2018- Week 5 (28th - 31st)

• The last week of May saw demand for the industrial metal on the decline due to lower investor interest in bullion ahead of the much anticipated North Korea- U.S. summit.
• Silver opened the week at Rs.43,000 per kg on 28 May before Silver price in Patna dropped to Rs.42,900 per kg on 30 May.
• Poor local demand also contributed to the drop in price, though silver recovered marginally to end the month at Rs.43,100 per kg.

Trend of Silver Rate in Patna for April 2018 (rates per kg)

April 2018- Week 1 (1st - 7th)

• The month began with silver priced at Rs.41,400 per kg in Patna as demand for silver was stable as a result of steady orders from industrial units.
• The impending trade talks between the U.S., and China as well as the U.S.-North Korea tensions resulted in equity markets performing poorly, which led to higher demand for safe-haven assets like bullion.
• Silver price in Patna rose to Rs.41,600 per kg on 3 April before a drop in order volumes led to a marginal drop in prices.
• A rise in the dollar rate coupled with stable economic markets led to silver prices falling to Rs.41,100 per kg on 6 April.
• Minor fluctuations in demand led to silver prices ending the week trading at Rs.41,200 per kg on 7 April.

April 2018- Week 2 (8th - 15th)

• The second week saw demand for silver rise marginally due to wildly fluctuating equity markets and currency markets.
• The week opened with silver trading at Rs.41,200 per kg on 8 April due to steady demand from industrial as well as retail sectors.
• As tensions between the U.S. and North Korea escalated, equity markets fell and led to profit-booking by overseas investors, which led to higher demand for silver.
• SIlver prices rose to Rs.41,700 per kg on 11 April after a suspected chemical attack in Syria and subsequent fall in equity markets led investors to buy safe-haven assets like gold and silver.
• Prices rose steadily for the rest of the week as global currencies also dropped, resulting in silver prices climbing to Rs.42,000 per kg on 12 April.
• Local demand was steady but demand vagaries led to the industrial metal trading at Rs.41,900 per kg on 15 April.

April 2018- Week 3 (16th - 22nd)

• Silver price in Patna rose to Rs.42,100 per kg in the third week as investors assessed the impact of the U.S.-led strikes against Syria over the weekend.
• Overseas demand for the industrial metal was quite high as equity markets were unstable and the dollar rate was poor, fuelling an increased demand for bullion.
• Silver traded at Rs.43,700 per kg on 19 April as local industrial demand rose on positive market cues and futures buying.
• Prices were high for most of the week as international cues propped up local demand and kept prices steady.
• A slight dip in price was recorded towards the end of the week as the dollar rate began to recover and equity markets also made some gains.
• Silver ended the week priced at Rs.41,900 per kg on 22 April.

April 2018- Week 4 (23rd - 30th)

• Demand for silver was steady but there was a drop in the industrial metal’s value over the last week of April.
• Investors awaited the outcome of the Fed Reserve meeting and U.S. industrial data, which led to lower demand for safe-haven assets.
• Silver opened the week at Rs.43,700 per kg on 23 April after an early rally but prices dropped on poor demand for the rest of the week.
• As tensions between China and the U.S. appeared to be easing, equity markets and the dollar rose, leading to lower imports of silver.
• Silver price in Patna fell to Rs.42,800 per kg on 28 April before dropping to Rs.42,300 per kg on 30 April.

Trend of Silver Rate in Patna for March 2018 (rates per kg)

March 2018 - Week 1 (1st - 4th):

• Silver was priced at Rs.41,100 per kg when trading commenced in Bihar’s capital Patna for the month of March.
• This month saw silver price in Patna fluctuate constantly due to various factors such as the latest Fed meeting and the trade war that was almost started by the US President Donald Trump.
• On the 2nd, silver was priced at Rs.41,400 per kg before selling at Rs.41,600 per kg on the next day.
• The week drew to a close with the metal still trading at Rs.41,600 per kg.

March 2018 - Week 2 (5th - 11th):

• When the second week’s trading opened in Patna, silver was priced at Rs.41,700 per kg before going down to Rs.41,400 per kg the next day.
• On the 7th, silver rate in Patna surged to Rs.41,900 per kg due to an increased demand. This was also the highest silver rate for the month.
• The US dollar seemed to be on the rise which caused the precious metal’s rates to drop over the next few days.
• Over the 8th and 9th, silver was priced at Rs.41,500 per kg and Rs.41,300 per kg respectively.
• A slight change in demand helped silver rates rise up to Rs.41,600 per kg on the 11th of March.

March 2018 - Week 3 (12th - 18th):

• The third week began in Patna with silver trading at Rs.41,600 per kg, which rose and fell over the next few days due to poor demand.
• On the 13th, silver rate in Patna went up to Rs.41,700 per kg after the US President fired his Secretary of State.
• Rates dropped over the next few days first to Rs.43,500 per kg and then to Rs.43,300 per kg on the 16th due to weak demand.
• Silver price in Patna had fallen further to Rs.41,100 per kg on the final day of the week as demand failed to pick up.

March 2018 - Week 4 (19th - 25th):

• This week saw silver trade at its lowest, due to a weak local demand from industries and coin makers.
• On the 19th, the metal traded at Rs.41,000 per kg - the month’s lowest before rising to Rs.41,200 per kg on the 20th.
• Due to a slowdown in demand, silver rate in Patna went back down to Rs.41,000 per kg on the 21st before a rise in sales pushed them up to Rs.41,500 per kg by the 23rd.
• The week ended with silver trading at Rs.41,600 per kg.

March 2018 - Week 5 (26th - 31st):

• The final week of March opened with silver trading at Rs.41,600 per kg, which went up to Rs.41,800 per kg on the 27th as demand from industries and coin makers rose, owing to a weak dollar and positive cues.
• Silver Rate in Patna fell to Rs.41,500 per kg on the subsequent day as demand slowed down. This further dropped to Rs.41,400 per kg on the final day of the month.
• This month’s trading recorded a 0.72% change in prices, which was made possible by steady local demand.

Trend of Silver Rate in Patna for February 2018 (rates per kg)

February 2018 - Week 1 (1st - 4th):

• The month began in Patna with the white metal trading at Rs.42,600 per kg on the 1st after the US dollar weakened ahead of the US employment data. This was also the highest monthly figure recorded in the city.
• Silver rates in Patna remained unaltered at Rs.42,600 per kg on the 2nd owing to strong domestic demand amid the positive global cues.
• However, the US dollar index rose against other emerging currencies after the US payrolls data proved to be stronger than expected. This led to silver prices in Patna plunging to Rs.41,700 per kg on the 3rd.
• Thanks to the subdued but steady demand from industries and coin manufacturers, the rest of the week saw the industrial metal prices holding steady at Rs.41,700 per kg on the 4th.

February 2018 - Week 2 (5th - 11th):

• When trading commenced for the second week, silver was priced relatively lower at Rs.41,500 per kg on the 5th after demand for the metal declined amid weak global cues.
• Though silver rates in Patna rose to Rs.41,900 per kg the next day, silver prices plunged to Rs.41,400 per kg on the 7th with the US dollar index rising against other apex currencies in the international market.
• Poor trends overseas compounded by weak demand resulted in silver rates dropping further to Rs.40,800 per kg on the 8th.
• The 9th saw the white metal rates rebounding to Rs.41,000 per kg following an unexpected incline in domestic demand despite the poor trend overseas.
• However, with the dollar and equities market performing well in the international trade, silver rates in Hyderabad plummeted to Rs.40,600 per kg on the 10th. This was also the lowest recorded monthly figure in the city.
• The week concluded with the industrial metal trading at Rs.40,600 per kg on the 11th with poor demand amid the weak trends overseas.

February 2018 - Week 3 (12th - 18th):

• Poor dollar performances coupled with weakly performing equities resulted in silver prices rising considerably during the course of the week.
• The week began with silver priced relatively higher at Rs.40,900 per kg on the 12th with the US dollar losing ground ahead of the US inflation data.
• The next couple of days saw silver rates rising after markets awaited the inflation data for clues on the pace of Fed rate hikes during the year. The white metal was recorded trading at Rs.41,300 per kg on the 13th before rising to Rs.41,400 per kg on the 14th amid the positive trends overseas.
• Silver prices in Patna surged to Rs.41,800 per kg on the 15th before plunging to Rs.41,700 per kg on the 16th with the US dollar strengthening following the US inflation data.
• With investors and traders gravitating on safe-haven assets to hedge against inflation concerns, demand for the metal surged. This led silver prices holding steady at Rs.41,700 per kg for the remainder of the week.

February 2018 - Week 4 (19th - 25th):

• The fourth week commenced with the industrial metal priced at Rs.41,600 per kg on the 19th.
• However, silver rates plunged to Rs.41,200 per kg the next day after the US dollar strengthened against other emerging currencies.
• Though rates remained untouched at Rs.41,200 per kg on the 21st amid the poor trends overseas, silver prices rebounded to Rs.41,400 per kg the next day with an increase in demand from local industries and coin manufacturers.
• Prices surged further to Rs.41,600 per kg on the 23rd with the US dollar index and equities market losing in the international market.
• The 24th saw rates declining slightly to Rs.41,500 per kg after domestic demand stabilised amid the firm trends overseas.
• Thanks to steady demand from industries and coin makers, the rest of the week saw silver trading firm at Rs.41,500 per kg amid the positive trend overseas.

February 2018 - Week 5 (26 to 28):

• The last week began with the white metal priced relatively higher at Rs.41,600 per kg on the 26th with investors and traders refraining from making purchases ahead of the new Fed chief’s first congressional testimony.
• Poor dollar performances coupled with losing equities led to silver rates rising further to Rs.41,700 per kg on the 27th.
• The 28th, however, saw silver rates in Patna plunging to Rs.41,200 per kg as the dollar gained ground after Jerome Powell the Federal Reserve chairman promised the nation to prevent the country’s economy from overheating while sticking to the planned Fed rate hikes.
• In February, silver rates in Patna fell by 3.28% due the poor overseas trends that demand lower for the metal.

Trend of Silver Rate in Patna for January 2018 (rates per kg)

January 2018 - Week 1 (1st - 7th):

• When trading began in Patna, silver was recorded trading at Rs.38,925 per kg on the 1st This was also the lowest recorded monthly figure in the city.
• Thanks to steady demand from local coin makers and industrial units, prices remained untouched at Rs.38,925 per kg the next day.
• Rates surged to Rs.39,110 per kg on the 3rd before plunging to Rs.38,995 per kg on the 4th after demand for the metal declined amid the strengthening US dollar.
• However, demand picked up with the dollar index losing against a basket of other emerging currencies towards the end of the week.
• Silver price in Patna rose to Rs.39,265 per kg on the 5th which rose further to Rs.39,355 per kg on the 6th following an increase in demand amid the positive trends overseas.
• Steady demand coupled with strong global cues resulted in silver rate in Patna remaining untouched at Rs.39,355 per kg for the remainder of the week.

January 2018 - Week 2 (8th - 14th):

• Silver price in Patna were recorded holding steady at Rs.39,355 per kg on the 8th when the week began amid positive overseas trends.
• However, with the US dollar gaining against other apex currencies in the global markets, demand for the metal declined. This led to the metal being priced Rs.39,115 per kg and Rs.38,925 per kg on the 9th and the 10th respectively.
• However, with demand picking up after an increase in offtake by industries and coin makers, prices surged to Rs.39,110 per kg on the 11th.
• Strong global cues coupled with steady domestic demand resulted in the white metal prices remaining untouched at Rs.39,110 per kg the following day.
• Silver rate in Patna rose to Rs.39,265 per kg on the 13th which surged further to Rs.39,355 per kg on the 14th due to a decline in the US dollar index value in the international markets.

January 2018 - Week 3 (15th -21st):

• The third week saw silver prices rising initially before plummeting on poor global cues towards the end of the week.
• Silver was recorded trading relatively higher at Rs.39,680 per kg on the 15th as demand for the metal picked up amid the weakening equities and the US greenback.
• Silver price in Patna dropped slightly to Rs.39,670 per kg on the 16th and continued to remain unchanged at the same rate the next day.
• The US dollar, however, regained lost ground and pushed demand lower for the industrial metal. This led to silver being priced at Rs.39,265 per kg on the 18th.
• Though the white metal prices dropped to Rs.39,115 per kg on the 19th, silver rate in Patna rebounded to Rs.39,265 per kg on the 20th following an uncharacteristic increase in demand in the domestic markets.
• Steady demand from coin manufacturers and industries despite the weak global cues resulted in the industrial metal being priced at Rs.39,265 per kg for the rest of the week.

January 2018 - Week 4 (22nd -28th):

• Strong safe-haven demand compounded by positive global cues resulted in silver rates rising significantly during the week.
• When trading began for the week, the industrial metal was priced at Rs.39,265 per kg on the 22nd.
• Steady domestic demand from local coin makers and industrial units amid the firm trends overseas resulted in the metal prices holding steady at Rs.39,265 per kg until the 24th.
• The 25th, however, saw silver rate in Patna surging to Rs.40,285 per kg on the 25th after investors and traders speculating over possible US government shutdown concerns ramped up safe-haven purchases.
• Thanks to strong global demand amid the strong global cues, silver price in Patna remained untouched at Rs.40,285 per kg until the end of the week.

January 2018 - Week 5 (29th - 31st):

• The final week commenced with silver opening on a stronger note with the metal priced at Rs.42,700 per kg - the highest recorded monthly figure- on the 29th with an increased domestic demand brought about the positive trends overseas.
• However, with markets eyeing on the two-day monetary policy meeting at the US Federal Reserve, the US dollar surged.
• The strengthening greenback coupled with firmer equities resulted in silver rate in Patna holding steady at Rs.42,200 per kg on the 30th and the 31st.
• Silver price in Patna rose by 8.41% owing to the strong trends that pushed rates higher during the month.

Silver as an investment in Patna

There is a view that many customers feel more secure investing in traditional forms of investment since they may be wary of financial instruments such as stocks and government bonds thanks to high rates of inflation, alleged corruption and fears about the overall business outlook. To avoid uncertainties, people, therefore, tend to prefer conventional forms of investment such as precious metals and particularly silver which is more affordable compared to gold.

Physical silver: Silver is bought in the form of coins, bars, silverware and various gift articles. Intricate and designer silver jewellery is in demand amongst the younger populace. According to market observers, the average price of silver at Rs.33,500 per kg is an attractive option for physical investment.

Silver contracts: Customers buy silver futures contracts at commodity exchanges in the country. The contracts are, however, short-term in nature. Silver micro is traded in 1 kg. Customers should bear charges such as exchange levy and stamp duty among others.

Silver rates in Patna

Silver rates in Patna have been on the decline since January 2015. The precious metal was pegged at Rs.40,065 at the start of the year but plummeted in the following months. The price of silver fell by -9.0% at Rs.36424 towards the end of the February. The downward trend continued in the months of March, April and June barring minor fluctuations. Silver was pegged at Rs.36340 towards the end of June and Rs.35476 in the month of August. The price of the yellow metal stood at Rs.36,110.00 in September and rose marginally by -4.7% at Rs. 37,915 (per kg) in October. The white precious metal is pegged at Rs.34,415 per kg as of December 2015, a 5.3% decrease from Rs.36,265 in the month of November.

Also Check Silver Price in NearBy Cities of Patna

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Also Know: Gold Rate in Patna