As the festival season approaches, many people are considering purchasing gold and silver jewelry. If you are also thinking about investing in these precious metals during the ongoing Navratri festivities, there’s good news for you. Gold and silver prices have recently fallen in Patna, offering relief to buyers. The prices of both metals have been reducing, bringing smiles to the faces of customers. Even though the drop in prices is considered modest, it is still a welcome opportunity for those looking to buy gold and silver jewelry for the festival season.
Drop in Gold Prices Brings Relief to Buyers
On Friday, gold prices in Patna were recorded to be ₹700 cheaper compared to Thursday’s rates. This reduction follows a similar price drop observed over the last two days, with prices falling by nearly ₹1000 in total. Jewelry market experts have mentioned that this decline may not be permanent, as it is the result of a slight market softening. They have indicated that gold prices may rise again in the coming days. Despite this, it is being viewed as an excellent time for buyers and investors to make their purchases.
Current Gold Prices in Patna
As per the latest information, the price of 24-carat gold in Patna has decreased from ₹114,500 per 10 grams to ₹113,800 per 10 grams. After adding GST, the price stands at ₹117,214. Meanwhile, 22-carat gold is selling at ₹105,700, and 18-carat gold is priced at ₹87,300 per 10 grams. This reduction in gold prices comes as a significant relief to those looking to buy gold, especially during the festival season when demand typically rises.
Silver Prices Also See a Drop
Along with gold, silver prices have also experienced a decline. As of today, silver is being sold at ₹134,800 per kilogram. When GST is included, the price increases to ₹138,844 per kilogram. Silver jewelry with a hallmark is available for ₹134 per gram, making it an attractive option for buyers looking for silver items at lower prices.
Old Jewelry Exchange Rates
If you are considering exchanging old jewelry, the exchange rates for gold and silver are also favorable. The price for 22-carat gold jewelry is ₹102,700 per 10 grams, and 18-carat gold is being exchanged for ₹84,300 per 10 grams. For silver, hallmark silver jewelry is being exchanged at ₹130 per gram, while non-hallmark silver jewelry is being exchanged at ₹127 per gram. This is a great opportunity for those who have old jewelry and want to upgrade or exchange it for new pieces.
Why Now Is the Right Time for Gold and Silver Purchases
With the ongoing decline in both gold and silver prices, Navratri shoppers have a great opportunity to purchase these precious metals at more affordable rates. Whether you are looking to buy gold for investment purposes or simply want to get some beautiful jewelry for the festive season, now is the ideal time to make a purchase. The price drop adds to the festive spirit, making the purchase of gold and silver jewelry more appealing for customers.
Experts Warn of Possible Price Increases
While the current decline in prices offers a temporary advantage to customers, market experts suggest that this situation may not last long. They predict that gold and silver prices could rise again in the near future. Therefore, it is recommended that anyone planning to buy jewelry take advantage of the current lower prices. If you wait too long, you may end up paying higher prices as the market adjusts.
In conclusion, the recent drop in gold and silver prices in Patna has come as a relief for shoppers planning to purchase jewelry for Navratri and other festivals. The reduction in prices, although moderate, provides a golden opportunity for those looking to buy high-quality jewelry without spending excessively. The prices of gold and silver are expected to rise again in the coming days, making it an ideal time to make purchases now. If you are considering buying gold or silver, don’t miss out on this favorable window. Whether you’re upgrading old jewelry or buying something new for the festive season, these price drops will make your shopping experience even more rewarding.
