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Gold price increases, silver stable

Gold price increases, silver stable

By Himalayan News Service

Gold bars are seen at the Austrian Gold and Silver Separating Plant 'Oegussa' in Vienna, Austria, March 18, 2016. REUTERS/Leonhard Foeger

Kathmandu, August 20 Gold price increased by Rs 400 per tola, while silver remained stable in the week between August 14 and 19. Bullion price rallied in the international market as the recent US economic reports did little to alter expectations that Federal Reserve interest rates would stay lower for longer, according to international media reports. Gold price increased in the domestic market as well, since prices of the precious metals in domestic market are governed by the rates set in the international market. The market opened on Sunday with gold price fixed at Rs 58,900 per tola. Price of the precious yellow metal remained unchanged on Monday. Price of gold increased by Rs 400 a tola to be traded at Rs 59,300 a tola and remained stable on Wednesday. Price of bullion was not revised on Thursday and Friday due to public holidays — Janai Purnima and Gaijatra — in the country. Price of silver, on the other hand, remain stable over the week. The market opened on Sunday with silver price fixed at Rs 890 per tola and its price remained the same on Monday. Price of the white metal edged up by five rupees a tola on Tuesday to be fixed at Rs 895 per tola. Price of silver, however, lost the gain of Tuesday and again settled at Rs 890 per tola on Wednesday. The price of silver too was not revised on Thursday and Friday.