Kathmandu, July 23

Gold and silver prices tumbled by Rs 300 and Rs 20 per tola, respectively, in the week, between July 17 and 22.

Bullion prices dropped slightly in the international market in the week due to strengthening of the dollar and the Bank of England’s decision to hold the current interest rate amidst rising concerns of rate cut along with the British referendum’s mandate to leave the 28-bloc European Union.

Prices of the precious metals in the domestic market are governed by the rates set in the international market.

The market opened on Sunday with gold price fixed at Rs 58,800 per tola. Gold price tumbled by Rs 300 a tola on Monday to be traded at Rs 58,500 per tola. Price of the precious yellow metal, however, edged up by Rs 100 a tola and was fixed at Rs 58,600 per tola on Tuesday. Bullion price again increased by Rs 100 a tola on Wednesday and was traded at Rs 58,700 per tola.

Gold price plunged by Rs 500 a tola in a single day on Thursday and was traded at Rs 58,200 per tola. Price of the yellow metal went up by Rs 300 a tola to Rs 58,500 per tola on Friday — the last trading day of the week.

Likewise, price of silver dropped by Rs 20 per tola in the six trading days of the week.

The market opened on Sunday with silver price fixed at Rs 910 per tola. Price of the white metal dropped by Rs 10 a tola to be traded at Rs 900 per tola and remained unchanged till Wednesday. Silver price plunged by Rs 25 a tola or nearly three per cent in a single day on Thursday to be fixed at Rs 875 per tola.

Price of white metal however, edged up by Rs 15 a tola on Friday to settle at Rs 890 per tola for the week.