Silver Nears ₹3 Lakh in Patna: China's Export Halt, Industrial Demand Fuel Price Surge

• Silver prices in Patna have surged to nearly ₹3 lakh per kilogram, with a single-day increase of over ₹21,000, impacting consumers during the wedding season.
• Patliputra Bullion Association President Vinod Kumar attributes the rise to international market dynamics, not local traders.
• A major factor is China's halt on silver exports, as China was the world's largest supplier, leading to reduced global supply and increased demand.
• Growing industrial demand for silver in semiconductors, solar panels, and electric vehicles, coupled with limited production, is also driving prices up.
• Gold prices are also rising due to the weakening dollar, geopolitical instability, and central banks increasing gold reserves, making it a safe investment.

Why It Matters: Silver prices in Patna are soaring due to China's export restrictions and surging industrial demand globally.