Kathmandu, March 19

The price of gold dropped by Rs 200 per tola, while that of silver increased by Rs 15 a tola, over the week — from March 13 to 18.

There was no significant fluctuation in the bullion market in the week because the sluggish economy in Europe, China and Japan has lured investors to park investment in bullion as a safe investment haven, said Federation of Nepal Gold and Silver Dealers’ Association (FeNegosida). The prices of precious metals in domestic market are governed by rates set in international market.

The market opened on Sunday with gold price fixed at Rs 56,000 a tola and remained unchanged on Monday. The price of the precious yellow metal, however, slumped by Rs 800 per tola in a single day on Tuesday to be traded at Rs 55,200 a tola.

Gold price, on Wednesday, edged up by Rs 200 a tola to Rs 55,400 per tola. Bullion price again went up by Rs 400 per tola on Thursday to be traded at Rs 55,800 a tola and the price remained constant on Friday.

Meanwhile, the price of silver increased by Rs 15 per tola during the six trading days of the week. The market opened on Sunday with silver price fixed at Rs 730 per tola and the price remained constant on Monday.

Price of the white metal, however, plunged by five rupees per tola on Tuesday to be traded at Rs 725 a tola and remained unchanged on Wednesday.

Silver price recorded a marginal gain of five rupees per tola on Thursday and was traded at Rs 730 per tola.

Price of the white metal surged by Rs 15 per tola in a single day, on Friday, to Rs 745 a tola.

Strengthening of the US dollar and rising stock and oil market is projected to have a negative impact on bullion price in the coming week, according to FeNegosida.