Silver Rate in Patna Today

Silver Rate in Patna

Patna is the capital city of the province of Bihar. Individuals in the city consistently anticipate buying silver as a possibility for gifting purposes. Individuals, here see silver as one of the more secure roads to contribute.

The pattern in silver rate in Patna is regularly discovered fluctuating more than in different urban areas in India. Albeit the fundamental motivation behind purchasing silver is fancy use, some of them do put resources into pieces of the pie, exchanging choices, for example, trade exchanged assets, spot agreements, and future agreements.

Silver Rate In Patna (Today & Yesterday)

	Today	Yesterday	Rate Change
Silver (1 gram)	₹ 67.40	₹ 71.40	₹ -4 ↓
Bar Silver (1 Kg)	₹ 67,400	₹ 71,400	₹ -4,000 ↓

Silver Rate In Patna For Last 10 Days

Date	Silver (1 gram)	Bar Silver (1 Kg)
11 Mar 2021	₹ 67.40	₹ 67,400
10 Mar 2021	₹ 71.40	₹ 71,400
09 Mar 2021	₹ 70.20	₹ 70,200
08 Mar 2021	₹ 66.50	₹ 66,500
07 Mar 2021	₹ 70.10	₹ 70,100
06 Mar 2021	₹ 70.10	₹ 70,100
05 Mar 2021	₹ 69.80	₹ 69,800
04 Mar 2021	₹ 71.60	₹ 71,600
03 Mar 2021	₹ 67.90	₹ 67,900
02 Mar 2021	₹ 72	₹ 72,000

Historical Silver Rate in Patna

Months	Lowest Price 999 Silver – ₹ Per Kg.	Highest Price 999 Silver – ₹ Per Kg.
Dec-20	59,000	70,700
Nov-20	58,300	65,410
Oct-20	60,200	63,800
Sep-20	57,000	69,500
Aug-20	65,000	76,510
Jul-20	48,510	66,050
Jun-20	47,100	50,160
May-20	41,000	50,110
Apr-20	39,940	42,700
Mar-20	39,480	51,080
Feb-20	48,000	51,500
Jan-20	48,900	51,000

Trend of Silver Rate in Patna for February 2021 (rates per kg)

Parameters	silver rate (per kg)
February 1 Rate	Rs.78,100 per kg
February 28 Rate	Rs.67,500 per kg
Highest Rate in February	Rs.78,100 per kg on 1 February
Lowest Rate in February	Rs.67,300 per kg on 5 February
Overall Monthly Performance	Decline
Percentage Change	-13.57%

Trend of Silver Rate in Patna for January 2021 (rates per kg)

Parameters	silver rate (per kg)
January 1 Rate	Rs.72,000 per kg
January 31 Rate	Rs.69,800 per kg
Highest Rate in January	Rs.74,500 per kg on 8 January
Lowest Rate in January	Rs.63,900 per kg on 9 January
Overall Monthly Performance	Decline
Percentage Change	3.05%

Trend of Silver Rate in Patna for December 2020 (rates per kg)

Parameters	silver rate (per kg)
December 1 Rate	Rs.64,600 per kg
December 31 Rate	Rs.72,300 per kg
Highest Rate in December	Rs.74,100 per kg on 21 December
Lowest Rate in December	Rs.63,400 per kg on 10 December
Overall Monthly Performance	Incline
Percentage Change	11.91%

Trend of Silver Rate in Patna for November 2020 (rates per kg)

Parameters	silver rate (per kg)
November 1 Rate	Rs.60,100 per kg
November 30 Rate	Rs.64,700 per kg
Highest Rate in November	Rs.67,700 per kg on 18 November
Lowest Rate in November	Rs.60,100 per kg on 1 November
Overall Monthly Performance	Incline
Percentage Change	7.65%

Trend of Silver Rate in Patna for October 2020 (rates per kg)

Parameters	silver rate (per kg)
October 1 Rate	Rs.60,700 per kg
October 31 Rate	Rs.61,000 per kg
Highest Rate in October	Rs.63,500 per kg on 21 October
Lowest Rate in October	Rs.60,210 per kg on 8 October
Overall Monthly Performance	Incline
Percentage Change	0.49%

Trend of Silver Rate in Patna for September 2020 (rates per kg)

Parameters	silver rate (per kg)
September 1 Rate	Rs.76,500 per kg
September 30 Rate	Rs.62,500 per kg
Highest Rate in September	Rs.76,500 per kg on 1 September
Lowest Rate in September	Rs.58,500 per kg on 24 September
Overall Monthly Performance	Decline
Percentage Change	-18.30%

What Makes the Demand for Silver in Patna?

Silver rates in Patna have been viewed as less expensive than gold all through present-day history. Most of the silver is utilized mechanically. It does not merit reusing Silver. Silver utilized for conductivity purposes in dated electronic gadgets. Quite possibly the most essential components that go into making silver less expensive than gold is simply the uncommonness of the metal.

The awkwardness in the organic market among gold and silver has up the majority of the effect in their costs. One of the great purposes behind silver being less expensive is a direct result of the lesser interest around the world. Realize that like any remaining metals, silver is a component of interest and supply in the country. Higher the interest, higher would be the cost of the valuable metal and the other way around.

How to trade Silver in Patna

National Spot Exchange (NSEL) has E-arrangement items like E-Gold and E-Silver, wherein individuals can exchange or put resources into silver actually as they do disparities. The exchanging long stretches of NSEL are from 10 AM to 11:30 PM.

Financial backers can purchase at least 1 unit of silver comparable to 100 grams of silver in Demat structure at constant Indian costs, which tracks the worldwide gold/silver costs. To exchange NSEL, financial backers need to open a different Demat account with any of the safes.

The name of the storehouses is can be found on the NSEL site. Subsequent to opening a Demat account, the financial backer can purchase silver in a dematerialized structure on the web. The unit of e-arrangement is 100 gm for silver. Financial backers can change over their e-Silver into actual silver or into money by exchanging NSEL.

5 Good Reasons to Invest in Silver

The answer to the question of investing in silver is yes. You should be investing in silver and here are 5 reasons that will show you just why it can be a good idea for investment.

Demand is Always Around

Silver being a precious metal is always in demand from the jewelry markets, especially in India. The demand is also being generated by industrial sectors that require silver for production and this demand far outweighs the demand by any other sector. This means that silver is something people need and what is in demand is worth investing in.

Supply vs Demand

While there is a large and ever-growing demand for silver being led by nations like India and China, the fact is that the availability of silver is dropping as demands rise and silver found above ground reduces. This means that at some time in the future it will become tough to come by silver and the price may be driven up the limited supply thus putting long-term investors in a very good financial position.

Timing the Markets

There are ways in which the silver markets can be predicted. Some of the most basic ways to time the market would be to wait for the wedding season or a festival to come around. The demand for both silver and gold goes up.

No Bank Accounts

You might find it hard to believe but a portion of India’s population is not in the system when it comes to banking and taxation. This makes it difficult for them to invest in a lot of instruments available and for them, one of the places to invest in is buying and selling silver because it can be bought and sold without too much of a hassle.

Cheaper than Gold

Silver is easier to acquire since it is cheaper than gold. Not everyone can hope to be able to buy sizable quantities of gold but when it comes to silver, it can be bought in bigger quantities because it’s cheaper. For example Rs. 36,215 (price as of 25 September 2015. Subject to change) could buy you 1 kg of silver but the same amount will only get you only a bit over 10 grams of gold.

Also, check the Gold rate in Patna.

Things to Remember Before Buying Silver Jewellery in Patna 

Purity Of Silver

Just like gold, one can also buy hallmarked silver. The Bureau of Indian Standards (BIS) hallmarks silver articles as well. Yash Punamiya, Owner of Kundan Jewellers says, “According to BIS rules, there are four signs that one must look for while buying a hallmarked silver article. However, hallmarking of silver and gold jewelry is a voluntary process. If the jeweler is offering you a non-hallmarked article, you can request him to get it hallmarked. Hallmarking of silver articles provides valid proof of the purity of silver article.” The four signs are as follows:

• BIS logo
• Purity grade/fineness
• Hallmarking center’s identification mark/number
• Jeweller’s identification mark/number

Making Charges

While buying silver jewelry, we usually take the price quoted by the jeweler at face value. However, you must ask the jeweler what is the price of silver prevailing in the market and what are the making charges being charged by him for the article you want to buy. Punamiya says, “Usually making charges for the silver article starts from Rs 3 per gram with no maximum limit. However, making charges for silver articles are on the lower side as compared to the charges for gold jewelry.”

Check For The Buy-Back Policy

Many people sell old silver or gold jewelry to buy a new one. While buying new silver jewelry or utensils, ask the jeweler about the buy-back policy. How much money will you get if you decide to sell the article purchased on a future date back to the same jeweler? For instance, if you have bought silver jewelry of 925 grade then at the time of selling your jeweler will pay you only for 92.5 percent of silver. Therefore, you should know the various charges that will be taken into account in calculating the sale price of your jewelry.

Gemstones On Silver Jewellery

Sometimes silver jewelry has gemstones embedded in it. You must make sure that your jeweler has not priced the weight of these gemstones at the price of silver.

German Silver

Nowadays, apart from silver one can also buy something called German silver. However, one must not confuse German silver with sterling silver or even silver. Punamiya says, “There is a difference between sterling silver and German silver. Sterling silver is actually made up of pure silver and other alloys which is hallmarked by BIS. On the other hand, German silver is any metal such as copper or brass which has silver polish. This is not BIS hallmarked.”

Also, check the silver rates in other cities.

Historical trend of silver rate in Patna 

Silver Rate Trend
Rate on 01-Jan-2020	Rs. 46665
Rate on 31-Jan-2020	Rs. 46989
Highest silver rate in Jan-20	Rs. 48106
Lowest silver rate in Jan-20	Rs. 45474
Month Performance	Rising
% Change	0.69%

FAQs about Silver Rate in Patna

✅ Why buying silver is a bad idea?

The main dangers of investing in silver are that you could physically lose items like silver coins and bars and that the value can decline with changes in the market.

✅ How do I buy real silver?

The clearest way to invest in silver is to go out and actually buy the physical metal. Bullion silver is available in coin and bar form, and most coin dealers and precious metals dealers will offer silver bullion in various sizes and formats.

✅ How can I buy silver in India?

How can you invest in silver in India? Either you can buy silver jewelry or can trade in e-silver through National Spot Exchange Limited or NSEL. You can also get silver ETFs from trading accounts.