The price of gold declined heavily by Rs 1,500 per tola in six trading days of this week as the price of the yellow metal slumped sharply in the international market.
The market opened on Sunday with gold price fixed at Rs 52,000 per tola. Even though the price remained unchanged on Monday, the price of the yellow metal dropped by Rs 400 per tola on Tuesday to settle at Rs 51,600, where it remained constant on Wednesday.
Come Thursday, the price of gold continued to drop by Rs 400 per tola to settle at Rs 51,200. Then on Friday, the last trading day of the week, the price further plunged by a whopping Rs 700 per tola. Consequently, the gold price recorded a year’s low to end the week at Rs 50,500 per tola.
In the international bullion market, gold price tumbled to a four-year low, according to various news agencies. Analysts have said that strengthening of the US dollar is hurting the bullion market as the US Federal Reserve on Tuesday announced an end to its quantitative easing programme.
Meanwhile, the price of silver also went down by a whopping Rs 40 per tola in the week. The market opened on Sunday with silver priced at Rs 735 per tola. On Monday and Tuesday, the price of white metal dipped by Rs five and then by Rs 10. Wednesday saw slight recovery of the white metal, which gained Rs five to be traded at Rs 725 per tola.
However, on Thursday, the price dipped again by Rs three to Rs 722 per tola. On Friday,the price of silver was set at Rs 695 per tola, a decline of Rs 27 from previous day’s price.
source:the himalayan times,1 oct 2014
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The market opened on Sunday with gold price fixed at Rs 52,000 per tola. Even though the price remained unchanged on Monday, the price of the yellow metal dropped by Rs 400 per tola on Tuesday to settle at Rs 51,600, where it remained constant on Wednesday.
Come Thursday, the price of gold continued to drop by Rs 400 per tola to settle at Rs 51,200. Then on Friday, the last trading day of the week, the price further plunged by a whopping Rs 700 per tola. Consequently, the gold price recorded a year’s low to end the week at Rs 50,500 per tola.
In the international bullion market, gold price tumbled to a four-year low, according to various news agencies. Analysts have said that strengthening of the US dollar is hurting the bullion market as the US Federal Reserve on Tuesday announced an end to its quantitative easing programme.
Meanwhile, the price of silver also went down by a whopping Rs 40 per tola in the week. The market opened on Sunday with silver priced at Rs 735 per tola. On Monday and Tuesday, the price of white metal dipped by Rs five and then by Rs 10. Wednesday saw slight recovery of the white metal, which gained Rs five to be traded at Rs 725 per tola.
However, on Thursday, the price dipped again by Rs three to Rs 722 per tola. On Friday,the price of silver was set at Rs 695 per tola, a decline of Rs 27 from previous day’s price.
source:the himalayan times,1 oct 2014
LINK
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