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Gold and silver lose lustre in the week

The price of both gold and silver declined by Rs 1,100 and Rs 10 per tola, respectively, over the week, from November 1 to 6.

The market opened on Sunday with gold price fixed at Rs 50,500 per tola and the price remained the same on Monday. Bullion price tumbled by Rs 150 a tola to be traded at Rs 50,350 per tola on Tuesday and continued its free fall till Friday — the last trading day of the week.

The price of the precious yellow metal plunged by Rs 350 per tola on Wednesday to be fixed at Rs 50,000 a tola. On Thursday, gold price again slumped significantly by Rs 500 a tola to settle at Rs 49,500 per tola. On Friday, bullion price dropped by another Rs 100 to close the trading week at Rs 49,400 per tola.

Likewise, the price of silver slumped by Rs 10 per tola in the six trading days of the week. The market opened on Sunday with silver price fixed at Rs 715 per tola and remained unchanged till Wednesday. The price of the white metal went down by five rupees on Thursday to be fixed at Rs 710 a tola. The price of silver again declined by Rs five per tola on Friday to close the week’s trading at Rs 705 per tola.

source:the himalayan times,8 nov 2015



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