KATHMANDU, SEPTEMBER 24

The price of precious metals increased slightly in the trading week between September 18 and 23.

In the domestic market, gold price rose by Rs 1,000 per tola, while silver price also went up by Rs 15 a tola during the review week.

According to the rate list of Federation of Nepal Gold and Silver Dealers Association (FeNe- GoSiDA), gold price was fixed at Rs 91,800 per tola on Sunday. Its price fell by Rs 400 a tola to be traded at Rs 91,400 per tola on Monday. On Tuesday, gold price rebounded to Rs 91,800 a tola again before dropping to Rs 91,300 per tola on Wednesday. On Thursday, the price of precious yellow metal increased by Rs 500 a tola to Rs 91,800 per tola. The price of gold further increased to Rs 92,800 a tola on Friday.

Similarly, silver was traded at Rs 1,185 per tola on Sunday and decreased by Rs 10 a tola on Monday. Its price increased by five rupees per tola to Rs 1,180 a tola on Tuesday, as per the FeNeGoSiDA. The price of the grey metal decreased by Rs 10 per tola to Rs 1,170 a tola on Wednesday. It rose by Rs 15 per tola on Thursday to be traded at Rs 1,185 a tola and surged by Rs 15 per tola on Friday to settle at Rs 1,200 a tola for the week.

According to Reuters, gold prices dropped over 1.5 per cent to their lowest since April 2020 on Friday, hurt by an unrelenting rally in the US dollar and Treasury yields as the Federal Reserve adopts a more aggressive stance to check surging inflation. Gold premiums in top consumer China climbed this week, helped by strong demand for the bullion, while prices in India traded at a discount for the first time in four weeks due to an uptick in domestic rates.

A version of this article appears in the print on September 25, 2022 of The Himalayan Times.