KATHMANDU, JULY 1
The price of yellow metal decreased while that of silver increased in the trading week between June 25 and 30.
In the domestic market, gold price decreased by Rs 600 per tola, while silver price rose by Rs 10 a tola during the review week.
According to the rate list of Federation of Nepal Gold and Silver Dealers' Association (FeNe- GoSiDA), gold price was fixed at Rs 110,200 per tola when the market opened for trading on Sunday. Gold prices increased by Rs 200 a tola on Monday before increasing again by Rs 200 per tola to Rs 110,600 a tola on Tuesday.
The price of yellow metal decreased by Rs 600 per tola on Wednesday before decreasing again by Rs 600 a tola on Thursday.
On Friday, gold price rose by Rs 200 per tola to close the trading week at Rs 109,600 a tola.
Meanwhile, silver was traded at Rs 1,350 per tola on Sunday and it increased by Rs 15 a tola on Monday. The price of the grey metal increased by Rs 10 per tola on Tuesday and remained unchanged the next day. Its price fell by five rupees a tola on Thursday before falling again by Rs 10 per tola on Friday to settle at Rs 1,360 a tola for the week.
According to international news agencies, gold was bound for its first quarterly decline in three, squeezed by expectations for more US interest rate hikes, while moderate inflation prints provided some support on Friday.
Prices have shed 2.5 per cent this quarter, dropping from levels just shy of all-time highs at $2,072 in May, caused by nervousness about the health of the US banking sector, to below $1,900 on Thursday. The dollar index and 10-year Treasury yields were both set to gain this quarter, eroding gold's appeal for investors holding other currencies.
A version of this article appears in the print on July 2, 2023, of The Himalayan Times.
