Create a function that updates the record with and timestamps

I would like to have postgres update the last_modified column with the current_date on an update of the record.
 
I am not sure if there is a very simple way of doing this?
 
Or, do I need to create a function and a trigger to call the row and update with new data and set the last_modified to current_date?
 
Here is the table.
 
CREATE TABLE price.price_table (
  PRICE_DATE DATE, 
  ID VARCHAR(13),
  OPENING NUMERIC(18,6),
  CLOSING NUMERIC(18,6),
  HIGHEST NUMERIC(18,6),
  LOWEST NUMERIC(18,6),
  VOLUME BIGINT,
  LAST_MODIFIED TIMESTAMP(6) WITHOUT TIME ZONE DEFAULT current_date,
CONSTRAINT PK_PRICE PRIMARY KEY (PRICE_DATE,ID));
 
Any help would be appreciated.
 
Cheers,
 
Chris
 

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