Gold price up, silver constant

Kathmandu, January 9

Gold price increased by a whopping Rs 2,000 per tola, while silver remained stable over the week, from January 3 to 8.

According to BullionVault, over the 10 years since 2006, January has become gold’s single best month of the year, showing a fall only twice in dollar terms, and averaging a gain of 4.7 per cent overall. “Thanks to the latest crash in China’s financial markets, January 2016 matched that gain in less than a week.”

The rate of the precious metals in the domestic market is governed by its price in the international markets.

The market opened on Sunday with gold price fixed at Rs 47,800 a tola. The price of the precious yellow metal edged up by Rs 200 per tola on Monday to be traded at Rs 48,000 per tola and continued its upswing till Friday.

Gold price on Tuesday went up by

Rs 500 per tola and was fixed at Rs 48,500 per tola. Bullion price again increased by Rs 400 per tola on Wednesday and was traded at Rs 48,900 a tola.

The price of gold surged by Rs 800 per tola — the biggest single day gain — on Thursday to Rs 49,700 per tola. Its price again edged up by marginal Rs 100 per tola to close weeks’ trading at Rs 49,800 per tola on Friday.

Meanwhile, price of silver remained stable during six trading days over the week. The market opened on Sunday with silver price fixed at Rs 675 per tola and remained unchanged till Friday — the last trading day of the week.