Today Silver Rate in Patna

Whether you're a seasoned investor or just getting started in the world of precious metals, understanding the price of silver in your local market is crucial to making informed decisions. The silver rate today in Patna is generally quoted in rupees per gram or kilogram. Like most commodities, the price of silver is subject to fluctuations, which can occur rapidly and unpredictably. The rate of silver in Patna can vary from day to day and even within a single day.

75,000

Today MCX silver price in rupees per 1 kg.
Today silver rate in india is 75,000 rupees per Kg

  • 10 Gram Silver rate Today
  • 750(10 gram)
  • 1 Kg Silver rate Today
  • 75,000(1 Kg)

Silver Rate Today in India (in Rs/1 gm)

Silver RateSilver Rate in BangaloreSilver Rate in ChennaiSilver Rate in DelhiSilver Rate in HyderabadSilver Rate in Mumbai
1 Gm7277757775
10 Gm721770750770750
100 Gm7,2097,7007,5007,7007,500
1 Kg72,10077,00075,00077,00075,000

Silver Rate in India for Last 10 Days

Date10 gram100 gram1 Kg
Mar 2, 20247507,50075,000
Mar 1, 20247457,45074,500
Feb 29, 20247427,42074,200
Feb 28, 20247397,39073,900
Feb 27, 20247407,40074,000
Feb 26, 20247457,45074,500
Feb 25, 20247497,49074,900
Feb 24, 20247497,49074,900
Feb 23, 20247457,45074,500

Today Silver Rate of Metro Cities in India

City 1 Gram 10 Gram 100 Gram1 Kg
727217,20972,100
777707,70077,000
757507,50075,000
777707,70077,000
757507,50075,000
757507,50075,000
757507,50075,000

Today Silver Rate of Other Cities in India

City 1 Gram 10 Gram 100 Gram1 Kg
757507,50075,000
727217,20972,100
777707,70077,000
757507,50075,000
777707,70077,000
777707,70077,000
757507,50075,000
757507,50075,000
757507,50075,000
757507,50075,000

Today Silver Rate in Patna - An Overview

The silver rate in Patna is subject to fluctuations based on a wide range of factors, including global economic trends, geopolitical events, and supply and demand dynamics. By staying up-to-date on these and other factors, you can make more informed decisions about buying, selling, or holding silver as a part of your investment portfolio. With brief insights and analysis of the silver rate trends stay ahead of the curve.

How You Can Make Silver as an Investment in Patna?

Investing in silver can be an excellent way to diversify your portfolio and protect against inflation. Just being familiar with the silver price in Patna won’t be enough to invest in silver, as the investor will need to get acquainted with the investment modes available across the city. Here are some ways you can invest in silver in Patna:

  • Purchase physical silver: You can buy physical silver in the form of coins, bars, or jewellery from local dealers or jewellers in Patna. Remember that factors like demand, supply, and the purity of the metal influence the price of physical silver.
  • Silver ETFs: Another way to invest in silver is through Silver Exchange Traded Funds (ETFs). These are investment funds that trade on stock exchanges and aim to track the price of silver. You can invest in Silver ETFs through a broker or online trading platform in Patna. 
  • Silver Futures: Investors can also trade silver futures contracts in Patna. A futures contract is an agreement between the buyer and seller to buy or sell silver at a specific price on a future date. However, trading in futures requires in-depth knowledge of the market and a higher risk appetite.
  • Silver Mining Stocks: Another way to invest in silver is by buying shares of silver mining and production companies. You can invest in these stocks through a broker or online trading platform in Patna.

When investing in silver, it is important to do your research and consult with a financial advisor to determine the best investment strategy for your goals and risk tolerance.

Things to Know Before Buying Silver Jewelry in Patna

If you are planning to purchase silver jewellery in Patna anytime soon, there are certain things that you must keep into account.

  • Purity of Silver: Silver jewellery is usually made with an alloy of silver and other metals like copper, nickel, or zinc. The purity of silver is measured in terms of its "fineness," which is the amount of pure silver in the alloy. In India, silver jewellery is usually made with 92.5% pure silver, also known as "Sterling Silver." Make sure to check the purity of the silver before making a purchase.
  • Hallmark: Look for the hallmark on the silver jewellery you're buying. A hallmark is a government-approved stamp that confirms the purity of the metal. In India, the BIS (Bureau of Indian Standards) hallmark is widely recognised and indicates the purity of the metal.
  • Authenticity: Always purchase from an authentic jeweller or dealer. Doing some research about the seller can save you from the rat trap. 
  • Design and Workmanship: Silver jewellery is available in a wide range of designs, from traditional to contemporary. Pay attention to the workmanship and detailing of the jewellery, as this can affect its overall quality and durability.
  • Price: Silver price in Patna can vary based on the design, purity, and workmanship. Make sure to compare prices from different sellers to get an idea of the prevailing market rate. However, keep in mind that cheaper prices may not always be a sign of good quality.

By considering the above-mentioned factors, you can make an informed decision when buying silver jewellery in Patna.

What Factors Affect Silver Prices in Patna?

Silver prices are affected by a variety of factors in Patna, just as they are in other parts of the world. Here are some of the key factors that can impact silver prices in Patna:

Global Demand and Supply

The overall supply and demand for silver across the global market play a significant role in determining its price. Prices are likely to increase if there is a high demand for silver and a limited supply. Conversely, prices are likely to fall if there is an oversupply of silver and weak demand.

Economic Conditions

The economic conditions in Patna and globally can impact silver prices. When the economy is strong, and there is high economic growth, demand for silver may increase, driving up prices. Conversely, when there is a weak economy and low growth, demand for silver may decrease, driving down costs.

Inflation and Currency Values

Silver is often seen as a hedge against inflation, so when inflation is high, demand for silver may increase, driving up prices. Similarly, fluctuations in currency values can impact silver prices. If the value of a currency decreases, silver prices may increase.

Industrial Use of Silver

Silver is used in an array of industries, including electronics, solar panels, and medicine. When demand for these industries is high, demand for silver may increase, driving up prices.

Investment Demand

Silver is often seen as a safe-haven asset and can be used as an investment. When investors are concerned about economic instability or geopolitical risks, demand for silver may increase, driving up prices.

All these factors create a significant impact on the silver prices in Patna and are interconnected. A variety of global and local factors can contribute to price fluctuations, and investors should carefully consider all relevant factors before making investment decisions. Additionally, these factors play a major role in determining silver price today in Patna.

Impact of GST on Silver Rate in Patna

The implementation of GST in India has had a significant impact on the silver rates in Patna. Prior to the implementation of the Goods and Service Tax, silver was subject to multiple taxes, including excise duty, VAT, customs duty, etc. However, after the implementation of GST, these taxes were placed by a single tax, which is expected to reduce the overall tax burden on silver purchases. This reduction in taxes could result in lowering the silver prices for consumers, as it reduces the overall production and distribution costs. In addition, implementing GST has helped streamline the silver market and reduce black market activity, which could also contribute to stabilising silver prices in Patna.

How Can Interest Rates Affect Silver Prices in Patna? 

Interest rates can have a significant impact on the silver rates in Patna. When interest rates are low, investors may be more likely to invest in commodities like silver, which can offer higher returns than traditional savings accounts or bonds. This increased demand for silver can drive up prices. On the other hand, when interest rates are high, investors may be less likely to invest in silver, as they can earn higher returns through other investments. This decreased demand for silver can lead to lower prices. Additionally, interest rates can impact the value of currencies, and this fluctuation may impact the silver rate today in Patna.

For instance, if the Indian rupee strengthens against the US dollar due to higher interest rates, the price of silver may decrease as it becomes more expensive for foreign buyers. Overall, interest rates can play a significant role in the demand for silver in Patna and can have a direct impact on its price.

Need Loan Assistance?

Connect with Loan Advisor Now!

+91
Choose City

Check Eligibility

Top 10 Banks

Frequently Asked Questions (FAQs)

How often do silver rates change in Patna?

Silver rates in Patna change on a daily basis based on various factors such as market demand, global trends, and economic conditions. These rates can fluctuate multiple times in a day and are subject to change without notice.

How can I check the ongoing Silver rates in Patna?

You can check the ongoing silver rates in Patna by visiting Urban Money’s official websites, websites of authorised jewellers, or commodity exchanges that provide real-time updates on silver prices. You can also check the daily newspapers or financial news portals for the latest silver rates.

How do I get the best silver rate in Patna?

To get the best silver rate in Patna, you can compare prices offered by various dealers and choose the one offering the lowest rate. You can also try bargaining with the dealer and buying in bulk to avail of discounts.

What is the preferred form of silver for investment in Patna?

In Patna, the preferred form of silver for investment is usually in the form of silver coins or bars. This is because they are easy to store, transport, and sell, and their purity and weight are guaranteed.

How to purchase silver coins in Patna?

You can purchase silver coins in Patna from authentic dealers, jewellery shops, or online platforms that sell certified coins. Before making a purchase, ensure that the coins are certified for purity and weight by a recognised authority.

Will I have to pay GST while buying silver in Patna?

Yes, you will have to pay GST (Goods and Services Tax) while buying silver in Patna. The current GST rate on silver is 3%.

Why should I check the daily silver rates in Patna?

Keeping an eye on the silver rate today in Patna can help you make informed decisions while buying or selling silver. By keeping track of the rates, you can take advantage of price fluctuations and avoid paying more than necessary. It can also help you plan your investments better and stay up-to-date with market trends.

Urban Money