Nepal | July 05, 2020

Bullion price remains steady

Himalayan News Service
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Kathmandu, February 15

Bullion price remained steady in the trading week between February 9 and 14.

As per Federation of Nepal Gold and Silver Dealers’ Association (FeNeGoSiDA), gold was traded at Rs 76,000 per tola on Sunday and it remained constant the next day. However, on Tuesday, price of the yellow metal fell by Rs 100 per tola and reached Rs 75,900 a tola. On Wednesday, gold price declined by Rs 200 a tola to settle at Rs 75,700 per tola. However, on Thursday, price of the bullion ascended by Rs 300 per tola to be traded at Rs 76,000 a tola and it remained constant on Friday to close at the same price as in the beginning of the week.

Gold price increased by Rs 400 per tola in the review period compared to the closing rate of Rs 75,600 a tola in the previous trading week.

Likewise, silver was traded at Rs 880 per tola on Sunday and it remained constant till Tuesday.

On Wednesday, silver price declined by five rupees a tola to be traded at Rs 875 per tola. However, on Thursday silver price increased by five rupees per tola to settle at Rs 880 per tola and it remained constant on Friday to close market at the same rate as in the beginning of the week.

Silver price declined by five rupees per tola in the review week compared to the closing rate of Rs 885 per tola in the previous trading week.

As per FeNeGoSiDA, with zero improvement in the coronavirus outbreak, the international market remained steady and that is why the bullion market also remained constant in the domestic market. Meanwhile, increasing rate of unemployment in the international market is another reason for bullion price to remain as it is.

Gold prices held steady on Friday after easing from a more than one-week high as investors assessed the risks to the global economy from the coronavirus epidemic, Reuters reported.

As per the news agency, physical gold demand was tepid in most Asian hubs this week, with premiums in China sliding to their lowest level since at least July 2018, as the coronavirus epidemic bruised businesses in the world’s top bullion consumer.

In India, demand improved due to a jewellery exhibition, although near record high prices capped retail demand.

As per Federation of Nepal Gold and Silver Dealers’ Association (FeNeGoSiDA), gold was traded at Rs 76,000 per tola on Sunday and it remained constant the next day. However, on Tuesday, price of the yellow metal fell by Rs 100 per tola and reached Rs 75,900 a tola. On Wednesday, gold price declined by Rs 200 a tola to settle at Rs 75,700 per tola. However, on Thursday, price of the bullion ascended by Rs 300 per tola to be traded at Rs 76,000 a tola and it remained constant on Friday to close at the same price as in the beginning of the week.

Gold price increased by Rs 400 per tola in the review period compared to the closing rate of Rs 75,600 a tola in the previous trading week.

Likewise, silver was traded at Rs 880 per tola on Sunday and it remained constant till Tuesday.

On Wednesday, silver price declined by five rupees a tola to be traded at Rs 875 per tola. However, on Thursday silver price increased by five rupees per tola to settle at Rs 880 per tola and it remained constant on Friday to close market at the same rate as in the beginning of the week.

Silver price declined by five rupees per tola in the review week compared to the closing rate of Rs 885 per tola in the previous trading week.

As per FeNeGoSiDA, with zero improvement in the coronavirus outbreak, the international market remained steady and that is why the bullion market also remained constant in the domestic market. Meanwhile, increasing rate of unemployment in the international market is another reason for bullion price to remain as it is.

Gold prices held steady on Friday after easing from a more than one-week high as investors assessed the risks to the global economy from the coronavirus epidemic, Reuters reported.

As per the news agency, physical gold demand was tepid in most Asian hubs this week, with premiums in China sliding to their lowest level since at least July 2018, as the coronavirus epidemic bruised businesses in the world’s top bullion consumer.

In India, demand improved due to a jewellery exhibition, although near record high prices capped retail demand.


A version of this article appears in print on February 16, 2020 of The Himalayan Times.


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