Kathmandu, August 6 Price of gold rose by Rs 500 a tola while that of silver dropped by five rupees per tola in the week, between July 31 and August 5. Gold price rallied in the week as the Bank of England (BoE) cut the interest rate by 0.25 per cent from 0.5 per cent to absorb the shocks of economic downturn from the decision of the United Kingdom to leave the European Union on June 24. The US Federal Reserve’s signal this week that it would not increase the interest rate that was planned for September added to the appeal of precious yellow metal. These developments have been pushing investors to park their investment in gold as safe investment haven, as per the international media reports. “The BoE cut interest rates for the first time in more than seven years and warned high-street lenders to pass on cheaper borrowing costs to customers, in a bigger-than-expected package of measures designed to prevent a post-Brexit recession,” reported The Guardian, UK. Impacts of the international market could be witnessed in the domestic market since rates of the precious metals here are governed by the rates set in the international market. The market opened on Sunday with gold price fixed at Rs 59,000 per tola and remained stable till Tuesday. Price of precious yellow metal increased by Rs 500 a tola in a single day on Wednesday to be traded at Rs 59,500 per tola. Gold price, however, fell marginally on Thursday and was fixed at Rs 59,200 a tola. Bullion price again edged up by Rs 300 per tola to Rs 59,500 a tola on Friday — the last trading day of the week. Likewise, price of silver fell by five rupees per tola during the six trading days of the week. The market opened on Sunday with silver price fixed at Rs 915 a tola and remained unchanged on Monday. Price of white metal dipped by five rupees on Tuesday and was fixed at Rs 910 per tola. Silver price went up by Rs 10 a tola to Rs 920 per tola on Wednesday. Price of white metal plunged by Rs 15 a tola, or 1.63 per cent in a single day, on Thursday to be fixed at Rs 905 per tola. Silver price, however, edged up by five rupees a tola on Friday to be traded at Rs 910 per tola.