Patna's Gold Price Plunges to Historic Low Amid Record Demand

The city of Patna in Bihar has seen one of its lowest gold prices among major Indian cities, with 24-karat gold selling at ₹15,875 per gram on August 31. This is a discount of ₹15 compared to Delhi's price of ₹15,905 and lower than most national benchmarks.

The price disparity can be attributed to various factors such as lower local state levies, thinner wholesale volumes, and Patna's geographic distance from major wholesale markets like Delhi and Mumbai. As a result, the city's effective gold price is often below the national average on most trading days.

Despite the low prices, gold consumption in Patna remains high due to cultural preferences and limited access to diversified financial instruments in rural areas. The World Gold Council's data showed that Indian households increased their gold holdings even as prices rose above ₹15,000 per gram.