Kathmandu, February 25

The price of yellow metal and silver decreased in the trading week between February 19 and 25.

In the domestic market, gold price decreased by Rs 800 per tola, while silver lost Rs 15 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 Rs 103,200 per tola when the market opened for trading on Sunday. The price remained unchanged on Monday before declining by Rs 200 a tola to be traded at Rs 103,000 per tola on Tuesday. The price of the precious yellow metal remained same on Wednesday before falling by Rs 500 per tola again on Thursday. Its price fell further by Rs 100 a tola on Friday to close the trading week at Rs 102,400 per tola.

Meanwhile, silver was traded at Rs 1,290 a tola on Sunday and its price remained unchanged on Monday and Tuesday. The price of the grey metal rose by five rupees per tola on Wednesday before falling by Rs 10 a tola on Thursday to Rs 1,285 per tola. On Friday, silver price decreased by Rs 10 a tola to rest at Rs 1,275 per tola for the week.

According to international news agencies, gold prices dropped to their lowest in eight weeks on Friday, pushed down by a stronger dollar and bond yields as the market braced for more interest rate hikes by the U.S. Federal Reserve in the coming months. US inflation accelerated while consumer spending rebounded sharply by 1.8 per cent in January, reinforcing expectations that the Fed will remain hawkish.

A version of this article appears in the print on February 26, 2023, of The Himalayan Times.