Gold, silver lose lustre

Kathmandu, November 21

The price of gold and silver declined by Rs 200 and Rs five per tola, respectively, over the week from November 15 to 20.

The market opened on Sunday with gold price fixed at Rs 48,700 per tola. Price of the precious yellow metal increased by Rs 300 to be traded at Rs 49,000 a tola on Monday. The bullion price, however, tumbled by Rs 500 per tola on Tuesday to be fixed at Rs 48,500 a tola.

Gold was traded at over a three-month low as its price slumped by another Rs 500 on Wednesday to be fixed at Rs 48,000 per tola. The price of the yellow metal was at a similar level on August 11 this year.

The price of gold edged up again by Rs 300 per tola and was traded at Rs 48,300 a tola on Thursday. Likewise, bullion price further jumped by Rs 200 a tola and settled at Rs 48,500 per tola on Friday — the last trading day of the week.

Likewise, the price of silver slumped by five rupees per tola in the six trading days of the week. The market opened on Sunday with silver price fixed at Rs 680 a tola and remained unchanged till Tuesday. Price of the white metal went down by five rupees on Wednesday to settle at Rs 675 per tola and remained unchanged till Friday — last trading day of week.