Bullion price fluctuates in domestic market
Kathmandu, December 14
Bullion price see-sawed in the domestic market in the trading week between December 8 and 13.
Gold was priced at Rs 71,200 per tola on Sunday. It declined by Rs 200 a tola on Monday to Rs 71,000 per tola. The price of the yellow metal dropped further by Rs 200 a tola to be traded at Rs 70,800 per tola on Tuesday and remained constant on Wednesday.
As per the Federation of Nepal Gold and Silver Dealers’ Association (FeNeGo- SiDA), the appeal of the precious metals had dimmed on signals of consensus on trade talks between the United States and China.
However, on Thursday, price of the yellow metal increased by Rs 400 a tola to Rs 71,200 per tola, according to the rate list of FeNeGoSiDA.
As per Reuters, gold price rose on Thursday as investors remained cautious about the developments in the United States and China trade negotiations, while political uncertainties in the world’s biggest economy further boosted the metal’s safe-haven appeal.
But the price again fell by Rs 400 a tola on Friday to close the trading week at Rs 70,800 per tola.
Meanwhile, gold dealers in India offered a discount this week due to plentiful supplies and slack demand during the wedding season, with other regions in Asia expected improvement in buying ahead of the Christmas and Chinese New Year festivities, Reuters reported.
Compared to the previous week’s closing rate of Rs 71,700 a tola, gold price in the review week fell by Rs 900 per tola.
Meanwhile, silver price was constant at the closing of the trading week after witnessing fluctuation in the entire review period. As per FeNeGoSiDA, silver was traded at Rs 840 a tola on Sunday before declining by five rupees per tola on Monday to be traded at Rs 835 a tola.
On Tuesday, price of the grey metal fell by five rupees per tola to Rs 830 a tola and remained constant on Wednesday.
However, on Thursday silver price rose by Rs 10 per tola to be traded at Rs 840 a tola and it remained constant on Friday.
Compared to the previous week’s closing rate of Rs 850 per tola, silver price in the review period dropped by Rs 10 a tola.