Jewellery buyers across Bihar have received welcome news right at the beginning of the wedding season. The bullion market in Patna witnessed a sudden and sharp drop in precious metal rates, providing much-needed respite to consumers preparing for family ceremonies. Prices had registered strong upward momentum throughout the previous week before settling into a flat trend after Friday. However, as the new trading week commenced, a steep price decline revitalised buyer activity and lifted market sentiment.
Official Revisions From Patliputra Sarafa Sangh
According to the daily figures released by the Patliputra Sarafa Sangh, the benchmark gold rate fell by 2800 rupees per 10 grams compared to the preceding day. Concurrently, silver saw an even steeper slide of 5000 rupees per kilogram. Market analysts point out that prices could experience an upward rebound in the coming days as wedding demand intensifies. Consequently, industry observers consider the current dip an optimal window for households needing to complete wedding jewellery purchases.
Breakdown Of Pure And Jewellery Gold Prices
In Patna's physical jewellery market, the base rate for 24-karat gold moved down from 127300 rupees to 124500 rupees per 10 grams. When applicable GST is added to this base price, the final retail cost stands at 128,235 rupees per 10 grams. For lower purities prior to taxation, 22-karat jewellery-grade gold is currently trading at 115,000 rupees per 10 grams, while 18-karat gold is quoted at 94,000 rupees per 10 grams.
Current Silver Bullion And Ornament Valuations
The correction in the white metal was equally pronounced across both bullion and finished items. Plain silver bars are selling at 160,000 rupees per kilogram in the city. Meanwhile, hallmarked silver ornaments are quoted at 157,000 rupees per kilogram before taxes. Once the mandatory GST is accounted for, customers purchasing hallmarked silver jewellery are charged an all-inclusive rate of 161,710 rupees per kilogram.
Exchange Rates For Pre-Owned Jewellery
For consumers planning to upgrade or trade in older holdings, the association has published clear exchange valuations. Pre-owned 22-karat gold jewellery commands an exchange value of 112,000 rupees per 10 grams, whereas old 18-karat gold ornaments are being accepted at 91,000 rupees per 10 grams. In the silver segment, old hallmarked jewellery receives an exchange value of 153 rupees per gram, compared to 150 rupees per gram offered for non-hallmarked items.
