KATHMANDU, SEPTEMBER 23
The price of yellow metal decreased while that of silver increased in the trading week between September 17 and 22. In the domestic market, gold price decreased by Rs 200 per tola, while silver price increased by Rs 25 a tola during the review week.
According to the Federation of Nepal Gold and Silver Dealers' Association (FeNe- GoSiDA), investors have flocked towards strengthening US dollar, resulting in a general decrease in the price of gold in the world market, thereby causing a drop in gold price in the domestic market.
According to the rate list of FeNeGoSiDA, gold price was fixed at Rs 112,300 per tola when the market opened for trading on Sunday and it increased by Rs 200 a tola on Monday. Its price increased by Rs 500 per tola on Tuesday before decreasing by Rs 200 a tola on Wednesday. On Thursday, gold price fell by Rs 300 per tola and again by Rs 400 a tola on Friday to close the trading week at Rs 112,100 per tola.
Meanwhile, silver was traded at Rs 1,400 a tola on Sunday and its price increased by five rupees per tola to Rs 1,405 a tola on Monday. The price of silver increased by five rupees per tola on Tuesday before decreasing by five rupees a tola to Rs 1,405 per tola on Wednesday. The price of the grey metal increased by five rupees a tola on Thursday before increasing by Rs 15 per tola to settle at Rs 1,425 a tola for the week.
According to international news agencies, gold prices edged higher on Friday, helped by a slight pullback in the dollar and bond yields as investors digested a still hawkish stance from the Federal Reserve. The dollar retreated from a six-month peak against a basket of major currencies, making gold less expensive for other currency holders, while benchmark 10-year Treasury yields slipped from 16-year highs.
A version of this article appears in the print on September 24, 2023, of The Himalayan Times
