Precious metal prices in Patna have turned noticeably softer following the festive peak, creating a favorable window for jewelry consumers in Bihar. Bullion rates have shown no significant upward movement since the conclusion of Dhanteras. With the state's wedding season scheduled to commence on November 18, households preparing for ceremonies are viewing this lull as an opportunistic purchasing period. Market analysts observe that physical demand typically accelerates as wedding dates draw closer, which could trigger a fresh upward trajectory in metal valuations.
Steep Price Correction Since Dhanteras
Trading in the Patna bullion hub reveals a persistent downtrend over recent sessions. Since Dhanteras, gold prices have retreated by 4,200 rupees per 10 grams, while silver values have tumbled by 19,000 rupees per kilogram. Prices had settled into a sideways pattern starting Saturday. Although routine price adjustments were anticipated following the opening of Tuesday's trade, opening sessions reflected an overall steady posture across local counters.
Current Retail Quotes for 24K, 22K and 18K Gold
Within Patna's retail jewelry circle, 24 karat gold is quoted at 122,500 rupees per 10 grams before applicable duties. When adding the mandatory Goods and Services Tax, the effective customer acquisition cost reaches 126,175 rupees per 10 grams. Meanwhile, 22 karat gold, predominantly selected for traditional ornaments, trades at 113,500 rupees per 10 grams exclusive of GST. Lower karatage 18 karat gold holds a price point of 93,300 rupees per 10 grams before tax.
Silver Bullion and Hallmarked Jewelry Valuations
Silver has simultaneously experienced a considerable price correction across regional distribution channels. Raw silver metal in Patna is transacting at 1,53,000 rupees per kilogram. In terms of fabricated items, hallmarked silver jewelry is trading at 151,000 rupees per kilogram. Once the requisite tax structure is computed into the final ticket, the retail outlay for hallmarked silver ornaments totals 155,530 rupees per kilogram.
Prevailing Scrap and Exchange Rates for Old Ornaments
Retail jewelers have also published updated buyback and exchange valuations for patrons trading in ancestral or worn jewelry. Customers exchanging old 22 karat gold ornaments receive a standard credit of 110,500 rupees per 10 grams. Those turning in 18 karat gold pieces obtain 90,300 rupees per 10 grams against new purchases. For silver, old hallmarked articles secure an exchange rate of 147 rupees per gram, whereas non-hallmarked silver items yield an exchange assessment of 145 rupees per gram.
