Price of precious metals rises on upbeat US economic data

Gold and silver prices increased marginally — by Rs 100 and five rupees per tola, respectively — in the week of July 3 to 8. Bullion price remained more or less stable in the week in the international market as the upbeat economic data of the United States took some of the sting out of the latest Brexit scare, according to Reuters. Prices of the precious metals in the domestic market are governed by the rates set in the international market. The market opened on Sunday with gold price fixed at Rs 58,800 per tola. Precious yellow metal edged up by Rs 100 a tola on Monday and was traded at Rs 58,900 per tola. Its price remained stable on Tuesday. Bullion price increased by another Rs 100 per tola on Wednesday to be traded at Rs 59,000 a tola. Gold price was not revised on Thursday due to public holiday of Eid festival. However, price of precious yellow metal tumbled by Rs 100 per tola to be fixed at Rs 58,900 per tola on Friday. Likewise, price of silver also increased by five rupees per tola during the five trading days of the week. The market opened on Sunday with silver price fixed at Rs 890 a tola. Price of the white metal went up by Rs 10 per tola on Monday to be fixed at Rs 900 a tola and remained constant on Tuesday as well. Silver price continued its upswing on Wednesday by five rupees per tola and was traded at Rs 905 per tola and remained unchanged on Thursday. Silver price, however, slumped by Rs 10 per tola on Friday to be traded at Rs 895 a tola on Friday — the last trading day of the week. Source: The Himalayan Times