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Gold price down, silver up
2015-09-13

Gold price declined by Rs 500 per tola, however, silver price went up by five rupees per tola over the week, from September 6 to 11.

Gold price has declined for three consecutive weeks after the regular two-week gain in the bullion market following the devaluation of the Chinese yuan on August 11.

The market opened on Sunday with gold price fixed at Rs 50,400 per tola. Bullion price edged up by Rs 100 a tola on Monday to be fixed at Rs 50,500 per tola.

However, the gain was annulled on Tuesday as the price of the precious yellow metal dropped by Rs 100 per tola to be traded at Rs 50,400 a tola and remained the same on Wednesday.

The price of the precious yellow metal plunged by Rs 600 a tola in a single day on Thursday to be fixed at Rs 49,800 per tola. Gold price, however, edged up by Rs 100 on Friday to close the week at Rs 49,900 per tola.

Meanwhile, the price of silver increased by five rupees per tola in the six trading days of the week.

Silver was traded at Rs 685 a tola on Sunday — the first trading day of the week and the price of the white metal remained the same on Monday.

Its price dropped by five rupees per tola on Tuesday to be fixed at Rs 680 a tola. On Wednesday, the price of the white metal went up by Rs 10 per tola to be traded at Rs 690 a tola. Silver price slumped by five rupees per tola again on Thursday and was traded at Rs 685 a tola.

The white metal recovered the loss of the previous day by edging up five rupees per tola on Friday to be traded at Rs 690 per tola.

source: the himalayan times,12 september 2015

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