KATHMANDU, AUGUST 19

The price of yellow metal dropped, while that of grey metal increased in the trading week between August 13 and 18.

In the domestic market, gold price fell by Rs 700 per tola, while silver price rose by Rs 15 a tola during the review week.

According to the rate list of the Federation of Nepal Gold and Silver Dealers' Association (FeNeGoSiDA), gold price was fixed at Rs 111,100 per tola when the market opened for trading on Sunday. Its price increased by Rs 200 a tola to Rs 111,300 per tola on Monday and remained unchanged on Tuesday. Gold price decreased by Rs 100 a tola on Wednesday to be traded at Rs 111,200 per tola and slumped further by Rs 800 a tola on Thursday. The price of yellow metal remained unchanged on Friday to close the trading week at Rs 110,400 per tola.

Meanwhile, silver was traded at Rs 1,375 a tola on Sunday and its price remained unchained on Monday. The price of the grey metal increased by five rupees a tola on Tuesday before decreasing again by five rupees per tola to Rs 1,375 a tola on Wednesday. Silver price dropped further by five rupees per tola on Thursday before increasing by Rs 20 a tola on Friday to settle at Rs 1,390 per tola for the week.

According to international news agencies, gold was little changed on Friday, but bullion was bound for its third straight weekly dip as recent sound US economic data raised bets for interest rates staying higher for longer.

On Thursday, holdings in the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, registered the biggest drop since July last year. However, the Swiss bank forecast central bank gold-buying would remain strong for the rest of the year.

A version of this article appears in the print on August 20, 2023, of The Himalayan Times.