KATHMANDU, AUGUST 27
The price of precious metals witnessed a slight increase in the trading week between August 21 and 26.
In the domestic market, gold price increased by Rs 300 per tola, while silver price also went up by five rupees a tola.
According to the rate list of Federation of Nepal Gold and Silver Dealers' Association (FeNe- GoSiDA), gold price was fixed at Rs 95,500 per tola on Sunday and decreased by Rs 200 a tola on Monday. The gold price fell to Rs 95,000 per tola on Tuesday before increasing to Rs 95,300 a tola on Wednesday. The price of precious yellow metal increased to Rs 95,800 per tola on Thursday and remained unchanged on Friday.
Similarly, silver was traded at Rs 1,170 a tola on Sunday and decreased to 1,165 per tola on Monday. On Tuesday, the price of the grey metal fell to Rs 1,160 a tola and before increasing to Rs 1,165 per tola on Wednesday, as per the FeNeGoSiDA. The price of silver increased to Rs 1,175 a tola on Thursday and remained the same on Friday.
According to Reuters, gold fell over one per cent on Friday after Federal Reserve Chair Jerome Powell in his speech at Jackson Hole said the US economy needed a tight monetary policy until inflation was under control.
Gold premiums in top consumer China jumped this week to their highest since last October as a fall in global prices encouraged purchases, while demand cooled in India as buyers waited for a bigger price drop, Reuters reported.
A version of this article appears in the print on August 28, 2022 of The Himalayan Times.
