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Silver Rate in the Most Popular Indian Cities
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.
Also Know: Gold Rate in Patna
Trend of Silver Rate in Patna for April 2022 (rates per kg)
| Parameters | Silver Price (per kg) |
| April 1 Rate | Rs.71,700 per kg |
| April 30 Rate | Rs.69,500 per kg |
| Highest Rate in April | Rs.75,200 on 18 April |
| Lowest Rate in April | Rs.68,800 per kg on 28 April |
| Overall Monthly Performance | Decline |
| Percentage Change | 3.06% |
Trend of Silver Rate in Patna for March 2022 (rates per kg)
| Parameters | Silver Price (per kg) |
| March 1 Rate | Rs.70,000 per kg |
| March 28 Rate | Rs.71,300 per kg |
| Highest Rate in March | Rs.77,600 on 9 March |
| Lowest Rate in March | Rs.70,000 per kg on 1 March |
| Overall Monthly Performance | Incline |
| Percentage Change | 1.85% |
Trend of Silver Rate in Patna for February 2022 (rates per kg)
| Parameters | Silver Price (per kg) |
| February 1 Rate | Rs.65,300 per kg |
| February 28 Rate | Rs.70,100 per kg |
| Highest Rate in February | Rs.70,600 per kg on 24 February |
| Lowest Rate in February | Rs.64,900 per kg on 7 February |
| Overall Monthly Performance | Incline |
| Percentage Change | 7.35% |
Trend of Silver Rate in Patna for January 2022 (rates per kg)
| Parameters | Silver Price (per kg) |
| January 1 Rate | Rs.66,600 per kg |
| January 31 Rate | Rs.65,400 per kg |
| Highest Rate in January | Rs.69,300 per kg on 21 January |
| Lowest Rate in January | Rs.64,300 per kg on 10 January |
| Overall Monthly Performance | Decline |
| Percentage Change | -1.80% |
Trend of Silver Rate in Patna for December 2021 (rates per kg)
| Parameters | Silver Price (per kg) |
| December 1 Rate | Rs.66,300 per kg |
| December 31 Rate | Rs.66,000 per kg |
| Highest Rate in December | Rs.66,300 on 1, 28, and 29 December |
| Lowest Rate in December | Rs.64,600 per kg on 15 December |
| Overall Monthly Performance | Decline |
| Percentage Change | -0.45% |
Trend of Silver Rate in Patna for November 2021 (rates per kg)
| Parameters | Silver Price (per kg) |
| Rate on 1 November 2021 | Rs.68,700 per kg |
| Rate on 30 November 2021 | Rs.66,500 per kg |
| Highest Rate in November | Rs.71,700 per kg on 13 and 14 November |
| Lowest Rate in November | Rs.66,500 per kg on 30 November |
| Overall Monthly Performance | Decline |
| Percentage Change | -3.20% |
Trend of Silver Rate in Patna for October 2021 (rates per kg)
| Parameters | Silver Price (per kg) |
| October 1 Rate | Rs.63,700 per kg |
| October 31 Rate | Rs.68,900 per kg |
| Highest Rate in October | Rs.70,300 on 25 October 2021 |
| Lowest Rate in October | Rs.63,700 per kg on 1 October 2021 |
| Overall Monthly Performance | Incline |
| Percentage Change | 8.16% |
Also Check Silver Price in NearBy Cities of Patna
| Silver Rate in Kolkata | Silver Rate in Raipur | Silver Rate in Guwahati |
| Silver Rate in Ranchi | Silver Rate in Lucknow |
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 silver price 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 silver rate 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.
FAQs on silver rate in Patna
- What are the charges for hallmarking silver?
- Do I have to pay GST when buying silver?
- What is the reason for the increase in silver rates?
- What are the factors that affect silver rates in India?
- Should I buy silver that is hallmarked?
- What are the various forms of silver one can purchase or invest in?
- What is the best time to purchase silver?
The cost for hallmarking silver is Rs.25 per silver article. In addition to that, the minimum charge per consignment, excluding service tax, is Rs.150.
Yes, a GST of 3% is levied on purchasing silver.
The rise in the silver rate is linked to increased market volatility as well as weakening currency markets, especially the US dollar.
In India, silver prices are affected by factors like inflation, gold prices, industrial demand, mining cost, and bulk purchases.
Yes, hallmarking of silver articles indicates its purity.
An individual can buy silver jewellery, silver coins, silver household items, or bars and bullions.
You can invest in silver at any time of the year. However, keeping an eye on the market trends and buying when the silver price is low can be beneficial.
Read more on Silver
- Silver – Poor Man’s Gold
- Silver Bars and Silver Coins
- Amazing Facts About Silver
- Global Demand for Silver
- Are Long Term Silver Investments a Good Idea?
