KATHMANDU, SEPTEMBER 10

The price of precious metals increased in the trading week between September 4 and 9.

In the local market, gold price increased by Rs 300 per tola, while silver price also went up by Rs 40 a tola during the review week.

According to the rate list of Federation of Nepal Gold and Silver Dealers Association (FeNeGoSiDA), gold price was fixed at 93,600 per tola when the market opened for trading on Sunday and its price rose by Rs 100 a tola to be traded at Rs 93,700 per tola on Monday.

The price of the precious yellow metal increased by Rs 300 a tola on Tuesday before slumping by Rs 1,000 per tola on Wednesday.

The price of precious yellow metal increased by Rs 800 a tola to Rs 93,800 per tola on Thursday before increasing by Rs 100 a tola on Friday to rest at Rs 93,900 per tola for the week.

Meanwhile, silver was traded at 1,110 a tola on Sunday and its price went down by five rupees per tola to be traded at Rs 1,115 a tola on Monday. Its price inclined by Rs 10 per tola on Tuesday, as per the FeNeGoSiDA. The price of the grey metal decreased by Rs 15 a tola on Wednesday to Rs 1,110 per tola before increasing by Rs 25 a tola on Thursday. On Friday, silver prices rose by Rs 15 per tola to settle at Rs 1,150 a tola for the week.

According to Reuters, gold rose on Friday as the dollar's retreat temporarily seemed to stave off some pressure on the precious metal from prospects of more interest rate hikes.

Physical gold demand in some Asian hubs remained firm this week as lower prices lured buyers, although an uptick in domestic rates restrained purchases in India. In top consumer China, premiums stayed elevated at $18 to 22 an ounce over the international benchmark, compared with $16 to 25 last week.

A version of this article appears in the print on September 11, 2022 of The Himalayan Times.