This week, the price of gold in the domestic market dropped to an over three-year low, whereas silver price has come down to the level that it was at four years back, as the prices of gold and silver continued to slide in the international bullion market.
Gold and silver prices decreased by Rs 1,000 and Rs 25 per tola, respectively, in six trading days of this week. Prices of the bullion have been continuously falling from the last week of October this year.
The market opened on Sunday with gold price fixed at Rs 50,000 per tola. Price of the precious yellow metal was down by Rs 200 per tola on Monday, settling at Rs 49,800 per tola. The price went down marginally on Tuesday and Wednesday by Rs 100 per tola each day and was traded at Rs 49,700 per tola and Rs 49,600 per tola, respectively.
Price of gold decreased by a whooping Rs 500 per tola in a single day on Thursday to settle at Rs 49,100, a price recorded three years ago. Gold price continued to drop by Rs 100 per tola to settle at Rs 49,000 on Friday — the last trading day of the week.
Bullion price in the international market started to rise from August 2011 due to escalated demand in the emerging economies. But the selling pressure in the bullion market following the ending of US Federal Reserve’s ‘quantitative easing’ programme has been pulling down the price of gold in the international market.
The Federation of Nepal Gold and Silver Dealers’ Association has said that gold price would settle at Rs 45,000 per tola within a few months as its price continues to decline in the international market.
Meanwhile, price of silver also went down by Rs 25 per tola this week and settled at Rs 665. Price of silver has dropped to an over four-year low as it plunged by Rs 40 per tola last week.
The market opened on Sunday with silver priced at Rs 690 per tola and it remained unchanged till Tuesday. Its price slumped by Rs five per tola to settle at Rs 685 per tola on Wednesday. Likewise, its price decreased by Rs 20 per tola and was traded at Rs 665 per tola on Thursday and the price of the white metal remain unchanged on Friday — last trading day of week.
source: the himalayan times,8 nov 2014
LINK
Gold and silver prices decreased by Rs 1,000 and Rs 25 per tola, respectively, in six trading days of this week. Prices of the bullion have been continuously falling from the last week of October this year.
The market opened on Sunday with gold price fixed at Rs 50,000 per tola. Price of the precious yellow metal was down by Rs 200 per tola on Monday, settling at Rs 49,800 per tola. The price went down marginally on Tuesday and Wednesday by Rs 100 per tola each day and was traded at Rs 49,700 per tola and Rs 49,600 per tola, respectively.
Price of gold decreased by a whooping Rs 500 per tola in a single day on Thursday to settle at Rs 49,100, a price recorded three years ago. Gold price continued to drop by Rs 100 per tola to settle at Rs 49,000 on Friday — the last trading day of the week.
Bullion price in the international market started to rise from August 2011 due to escalated demand in the emerging economies. But the selling pressure in the bullion market following the ending of US Federal Reserve’s ‘quantitative easing’ programme has been pulling down the price of gold in the international market.
The Federation of Nepal Gold and Silver Dealers’ Association has said that gold price would settle at Rs 45,000 per tola within a few months as its price continues to decline in the international market.
Meanwhile, price of silver also went down by Rs 25 per tola this week and settled at Rs 665. Price of silver has dropped to an over four-year low as it plunged by Rs 40 per tola last week.
The market opened on Sunday with silver priced at Rs 690 per tola and it remained unchanged till Tuesday. Its price slumped by Rs five per tola to settle at Rs 685 per tola on Wednesday. Likewise, its price decreased by Rs 20 per tola and was traded at Rs 665 per tola on Thursday and the price of the white metal remain unchanged on Friday — last trading day of week.
source: the himalayan times,8 nov 2014
LINK
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