Kathmandu, December 24
Gold price decreased, while that of silver went up in the trading week between December 18 and 24. In the domestic market, gold price fell by Rs 200 per tola, while silver price increased by Rs 10 a tola during the review week.
According to the rate list of Federation of Nepal Gold and Silver Dealers' Association (FeNeGoSiDA), gold price was fixed at Rs 100,500 per tola when the market opened for trading on Sunday and remained unchanged on Monday.
The price of the precious yellow metal decreased by Rs 100 a tola on Tuesday before falling by Rs 200 per tola on Wednesday. Its price increased by Rs 300 a tola on Thursday before decreasing by Rs 200 per tola to settle at Rs 100,200 a tola on Friday, the last trading day of the week.
Meanwhile, silver was traded at Rs 1,380 per tola on Sunday and its price remained unchanged on Monday. The price of grey metal fell by five rupees a tola on Tuesday before increasing by Rs 25 per tola on Wednesday.
On Thursday, silver prices increased by five rupees a tola before decreasing by Rs 15 per tola on Friday to settle at Rs 1,390 a tola for the week, as per the FeNeGoSiDA.
According to Reuters, gold prices edged up on Friday before a long holiday weekend as data showed US inflation was cooling, though not significantly enough for the Federal Reserve to slow down rate hikes.
Physical gold buyers in Japan took advantage of a dip in domestic prices this week following a surprise policy tweak by the central bank, while buying in top consumer China was subdued by a surge in COVID-19 infections.
The jump in yen resulted in a fall in gold prices, leading to strong buying interest, a Tokyo-based trader said, Reuters reported.
A version of this article appears in the print on December 25, 2022, of The Himalayan Times.
