Gold, silver prices dip

Kathmandu, July 11

Gold and silver prices further declined this week by Rs 400 and Rs 10 per tola, respectively, from July 5 to 10.

The bullion price has been continuously tumbling since three consecutive weeks as bullion trading has been hit by the Greek crisis in the international market. Bullion price in the domestic market is also determined by the international market rates.

The market opened on Sunday with gold price fixed at Rs 50,900 per tola this week. Bullion price edged up by Rs 100 a tola on Monday and was traded at Rs 51,000 per tola.

The price of the precious yellow metal started to decline from Tuesday. On Tuesday, its price fell by Rs 200 per tola to be fixed at Rs 50,800 a tola. Gold price again dropped by Rs 300 a tola on Wednesday to settle at Rs 50,500 per tola. Its price remained unchanged for the remaining two trading days of the week.

Likewise, the price of silver also dropped by Rs 10 per tola in the six trading days of the week.

Silver was traded at Rs 685 per tola on Sunday. The price of the white metal remained unchanged till Tuesday — the third trading day of the week.

Silver price plunged by Rs 20 per tola in a single day on Wednesday to be fixed at Rs 665 a tola and remained the same till Thursday. However, the white metal recovered some of the loss on the last trading day of the week, rising by Rs 10 per tola to settle at Rs 675 a tola on Friday.