PATNA – In the month of Kharmas, the bullion market in Bihar is witnessing a notable rise in gold and silver prices, coupled with a decline in customer demand.
On Thursday, in the local Patna bullion market, the price of silver saw an increase of ₹500 per kilogram, while gold also experienced a rise of ₹50 per ten grams. The trend of strengthening metals persisted the following day, with silver reaching ₹75,200 per kilogram. Similarly, gold stabilized at ₹62,500 and ₹62,350 per ten grams, maintaining a purity of 22 carats. Within just two days, silver recorded a substantial increase of ₹1,000 per kilogram, and gold witnessed a rise of ₹100 per ten grams.
The continuous upward trend in gold and silver prices during the monsoon season has impacted customer demand. The effects of this sustained strength in metals are reflecting in fluctuations in the global market. The situation of declining customer demand is expected to improve with the anticipated shortage of metals during the upcoming season.
The prevailing argument is that the one-month monsoon has led to a decrease in customer demand. Consequently, relief is expected as jewelry buyers and traders in the market adopt a slower pace. Business activities are currently unfolding amidst limited customer demand, potentially causing a contraction in business scope during this period of strength.
