Bullion price witnesses slight fluctuation
Kathmandu, December 7
The bullion price witnessed slight fluctuation in the trading week between December 1 and 6.
According to the Federation of Nepal Gold and Silver Dealers’ Association (FeNeGoSiDA), bullion price slightly went up during the middle of the review period compared to the rate at the opening of the trading week. However, bullion price fell towards the end of the review period.
As per FeNeGoSiDA, gold was traded at Rs 71,600 per tola on Sunday, however, on Monday the price went down by Rs 200 per tola to settle at Rs 71,400 a tola. The price remained constant on Tuesday. The next day, the price of the precious metal went up by Rs 800 a tola to be traded at Rs 72,200 per tola. According to FeNeGoSiDA, gold price jumped up by Rs 800 per tola in the middle of the trading week due to the signal for trade talks between China and the United States.
However, on Thursday, price of the yellow metal fell by Rs 200 a tola to settle at Rs 72,000 per tola. The gold price further went down by Rs 300 per tola on Friday to close the trading week at Rs 71,700 per tola.
Gold price went up by Rs 400 per tola in the review period compared to the closing rate of Rs 71,300 per tola in the previous week.
Meanwhile, silver was traded at Rs 855 per tola on Sunday and went down by five rupees per tola on Monday to be traded at Rs 850 a tola. Silver price remained constant on Tuesday. On Wednesday, however, price of the grey metal surged by Rs 15 per tola to settle at Rs 865 a tola in the domestic market. However, the next day, silver price fell by Rs 15 per tola to reach Rs 850 per tola. Silver price remained constant on Friday to close the trading week at Rs 850 a tola.
As per FeNeGoSiDA, the closing rate of silver declined by five rupees per tola in the review period compared to the closing rate of Rs 855 a tola the previous week.
Meanwhile, Reuters has reported that gold slid by one per cent on Friday as strong US jobs data renewed bets the Federal Reserve would stand pat on interest rates and also boosted demand for riskier assets, while supply-squeezed palladium soared to a new record high. Bullion has fallen nearly 0.3 per cent so far this week.
Meanwhile, demand for physical gold was moderate in India this week due to lower than usual wedding season buying, while top consumer China saw increased activity as wholesalers cleared out inventories into the year-end, Reuters reported.