Kathmandu, March 25

Gold price decreased, while that of silver went up in the trading week between March 19 and 24. In the domestic market, gold price fell by Rs 200 per tola, while the silver price increased by Rs 15 a tola during the review week.

According to the rate list of the Federation of Nepal Gold and Silver Dealers' Association (FeNeGoSiDA), gold price was fixed at a record high of Rs 110,000 per tola when the market opened for trading on Sunday before decreasing by Rs 700 a tola on Monday. The price of the precious yellow metal increased by Rs 500 per tola on Tuesday before plunging by Rs 2,000 a tola to Rs 107,800 per tola on Wednesday. Its price went up by Rs 1,200 a tola on Thursday before rising again by Rs 800 per tola to be traded at Rs 109,800 a tola on Friday, the last trading day of the week.

Meanwhile, silver was traded at Rs 1,345 per tola on Sunday and its price fell by five rupees a tola on Monday. The price of grey metal increased by Rs 10 per tola on Tuesday before decreasing by five rupees a tola on Wednesday. On Thursday, silver prices increased by Rs 25 per tola and remained unchanged on Friday to settle at Rs 1,360 a tola for the week, as per the FeNeGoSiDA.

According to international news agencies, gold dipped on Friday in a volatile week that saw bullion prices north of the key $2,000 figure as bank contagion fears bolstered both safe-haven demand and bets on a pause in Federal Reserve rate hikes. Rescue measures for struggling banks eased contagion fears earlier in the week, putting gold on course for its first weekly decline in four, down about 0.5 per cent, despite having climbed to its highest in a year above $2,000 on Monday. But banking shares were trounced again on Friday, with European giants Deutsche Bank and UBS knocked by worries that regulators and central banks have yet to contain the worst shock to the sector since the 2008 financial crisis.

A version of this article appears in print on March 26, 2023, of The Himalayan Times.