Prices of gold, silver plunge

KATHMANDU, June 27: Prices of gold and silver plunged by Rs 800 and Rs 10 per tola, respectively, in the bullion market from June 20 to 26 due to weak trend in the global market.

The domestic market also witnessed low demand from jewellers this week, and hardly 10 kg of gold was sold in the market over the week. Normally, the demand for gold stands at 20 kg per day, according to the Federation of Nepal Gold and Silver Dealers’ Association.

The market opened on Sunday with gold price fixed at Rs 52,200 per tola. Its price remained stable on Monday. Bullion price slumped by Rs 400 a tola in a single day on Tuesday and was traded at Rs 51,800 per tola.

The price of the precious yellow metal again plunged by Rs 300 per tola to be fixed at Rs 51,500 a tola on Wednesday and its price remained same on Thursday.

With a marginal slump of Rs 100 per tola, gold price was fixed at Rs 51,400 per tola on Friday — the last trading day of the week. The last time gold was traded at a similar rate was on June 7.

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 700 per tola on Sunday — the first trading day of the week. The price of the white metal remained unchanged till Tuesday.

The price of silver went down by Rs 10 per tola on Wednesday to be fixed at Rs 690 per tola. Silver price remained constant until Friday to close the week’s trading at Rs 690 per tola.