The arrival of December has brought a fresh surge in gold prices across bullion markets in Patna, Bihar. Driven by ongoing international market uncertainties and a growing preference among investors for safe-haven assets, gold rates are edging toward record territory once again. Compared to the previous session, 24-karat gold registered a direct increase of Rs 600 per 10 grams today. On the other hand, silver prices, which witnessed a record rally during the final days of November, have paused over the last two days. Moderate industrial demand coupled with slightly cautious buying from retail investors has kept silver ranges bound for now.
Detailed Breakdown of Gold Rates by Purity
In Patna's retail jewellery market, the base price of 24-karat gold climbed from Rs 1,29,600 to Rs 1,30,200 per 10 grams today. When inclusive of GST, the effective consumer price for 24-karat gold stands at Rs 1,34,106 per 10 grams. Meanwhile, 22-karat gold is priced at Rs 1,20,500 per 10 grams without tax. For buyers seeking 18-karat gold, the current base price is set at Rs 98,400 per 10 grams. The upward movement across all purity levels continues to influence family budgets during the ongoing wedding season.
Silver Rates and Applicable Taxes
Silver trading in Patna shows a steady trend after recent high volatility. Bulk silver is priced at Rs 1,77,000 per kilogram in the local market. For hallmark silver ornaments, the retail rate without tax is Rs 1,75,000 per kilogram. Adding GST raises the total purchase cost of 1 kg silver to Rs 1,80,250. Market observers note that despite the current pause, silver remains poised for potential upward movement if global industrial or investment demand accelerates.
Exchange Rates for Old Jewellery
Jewellers in Patna have also updated exchange rates for customers exchanging old ornaments. The exchange value for 22-karat old gold jewellery is currently fixed at Rs 1,17,500 per 10 grams, while 18-karat old gold jewellery commands an exchange rate of Rs 95,400 per 10 grams. For old silver items, hallmark jewellery offers an exchange rate of Rs 170 per gram, whereas non-hallmark silver jewellery is being exchanged at Rs 166 per gram.
Market Outlook and Advice for Buyers
Local trade experts in Patna suggest that while the bullion market might witness mild consolidation during the first week of December, global factors are likely to support higher valuations. Historical trends show heightened retail demand toward the end of the year, which keeps domestic prices firm. Advisory trends suggest that retail shoppers exercise prudence at current elevated levels. Waiting for potential market stabilization around mid-December could offer a more favorable buying opportunity for prospective ornament buyers.
