Patna: Silver prices fell for the third consecutive trading session on February 16, highlighting continued volatility in the bullion market. According to the India Bullion and Jewellers Association (IBJA), silver declined by Rs 2,949 per kilogram to Rs 2,39,484, down from Rs 2,42,433 recorded in the previous session. The sharp correction reflects sustained selling pressure and a broader adjustment following recent record highs.
Gold, however, showed signs of recovery. The price of 24-carat gold rose by Rs 1,315 to Rs 1,54,080 per 10 grams, compared with Rs 1,52,765 in the previous trading session. Despite this increase, gold has still declined overall in recent days, underscoring continued uncertainty in precious metal prices. Over the past three sessions, silver has dropped by Rs 26,965 per kilogram, while gold has fallen by Rs 3,242 per 10 grams.
The recent decline follows an extraordinary rally that saw both metals reach historic peaks on January 29. Gold touched an all-time high of Rs 1,76,121 per 10 grams, while silver surged to Rs 3,85,933 per kilogram. Since then, gold has corrected by Rs 22,041 per 10 grams, and silver has recorded a much steeper fall of Rs 1,46,449 per kilogram in just 18 days, reflecting profit-booking and shifting market sentiment.
IBJA benchmark prices do not include Goods and Services Tax (GST), making charges, or jewellers’ margins, which explains why retail rates vary across cities. These benchmark rates are widely used by financial institutions and serve as reference points for sovereign gold bond pricing and gold-backed loans, reinforcing their importance in India’s financial ecosystem.
Market analysts say the recent price correction has encouraged some investors to re-enter the market at lower levels. However, experts caution against large lump-sum investments, citing ongoing volatility. Instead, they recommend a staggered investment approach to reduce risk and average out purchase costs over time, particularly as global economic uncertainty continues to influence precious metal prices.
