Gold‚ silver prices slump

KATHMANDU, March 15: The price of gold and silver further declined by Rs 200 and Rs 10 per tola, respectively, over the week, from March 8 to 13. Gold price has been continuously falling since the last four weeks.

As market price fell sharply at the end of last week, the market opened on Sunday with gold price plunging by a massive Rs 1,100 per tola compared to the previous week’s close of Rs 51,600 per tola. The fall was the biggest single-day fall for the bullion in the past one year, which dragged the price of the precious yellow metal to Rs 50,500 per tola.

The price of the precious yellow metal, however, edged up on Monday by Rs 300 per tola and was fixed at Rs 50,800 per tola. Gold price again tumbled by Rs 300 to be traded at Rs 50,500 per tola on Tuesday and remained unchanged

on Wednesday. On Thursday, the bullion price slumped by Rs 400 to Rs 50,100 per tola.

With a marginal increase of Rs 200 per tola, the gold price was fixed at Rs 50,300 per tola on Friday — the last trading day of the week.

Likewise, the price of silver also plunged by Rs 10 per tola in the six trading days of the week. Silver was traded at Rs 680 per tola on Sunday. The price of the white metal remained stable for the next three trading days of the week — on Monday, Tuesday and Wednesday.

On Thursday, however, the price of silver slumped by Rs 10 to settle at Rs 670 per tola and remained unchanged on Friday.