Gold‚ silver prices decline
KATHMANDU:
The prices of gold and silver in the domestic market fell this week as well, as their rates continued to slump in the international market. In the domestic market, gold and silver prices decreased by Rs 200 per tola and Rs 10 per tola over the week, from April 12 to 17.
The market opened on Sunday with gold price fixed at Rs 51,800 per tola. The price of the precious yellow metal remained stable on Monday. The price held steady on Tuesday due to a public holiday (Nepali New Year 2072) in the domestic market.
On Wednesday, the price of gold plunged by Rs 350 per tola and was traded at Rs 51,450 per tola. The bullion price on Thursday edged up by Rs 200 per tola to be fixed at Rs 51,650 per tola. The price of the yellow metal went down marginally by Rs 50 per tola on Friday,
to settle the week’s trading at Rs 51,600 per tola.
The bullion price had started to rise in the international market from August 2011 due to escalation in demand in emerging economies. Along with the end of US Federal Reserve’s quantitative easing programme since October last year, the bullion prices have now somewhat stabilised in the international market.
Meanwhile, the price of silver also went down by Rs 10 per tola during the five trading days of the week and settled at Rs 695.
The market opened on Sunday, with silver priced at Rs 705 per tola. The price of the white metal dipped by five rupees per tola on Monday to be fixed at Rs 700 per tola and remained the same on Tuesday.
On Wednesday, silver price again dropped by five rupees and was fixed at Rs 695 per tola. Its price remained unchanged till Friday — the last trading day of the week.
Source: THT
