Silver Prices Fall in Patna Amid Weak Global Demand, Firm Rupee
Patna : Silver prices in Patna declined on Tuesday, in line with national and global market trends. The metal is now priced at Rs 111 per gram, with 10 grams at Rs 1,110, 100 grams at Rs 11,100, and 1 kilogram at Rs 1,11,000, reflecting a Rs 500 drop per kg from the previous session.
Domestically, the Indian rupee gained marginally against the dollar, making imports of silver more affordable and further pushing prices down. The recent drop also follows muted demand in the domestic market post-festive season, particularly after Akshaya Tritiya.
The dip in silver rates is largely driven by weak global demand and a stronger US dollar, which typically weighs on precious metals. On the international front, spot silver prices hovered near $27 per ounce as investors remained cautious amid uncertainty over US interest rate policy. Hints from the US Federal Reserve about delaying rate cuts have led to a rise in bond yields, reducing the appeal of non-yielding assets like silver.
Market analysts suggest this correction could be a short-term phase, and silver’s long-term outlook remains positive due to its industrial demand and safe-haven appeal. Buyers in Patna may find this a good entry point, provided they monitor global economic cues closely.
