Kathmandu, June 20

Gold price surged, while that of silver declined in the trading week between June 14 and 19.

According to the Federation of Nepal Gold and Silver Dealers’ Association (FeNeGoSiDA), gold was priced at Rs 89,600 per tola on Sunday and it went up by Rs 100 a tola on Monday to Rs 89,700 per tola. Gold price remained constant on Tuesday, but on Wednesday the price of the precious yellow metal increased by Rs 100 a tola to reach Rs 89,800 per tola and remained constant on Thursday.

On Friday, gold price rose by Rs 100 a tola again to close the trading week at Rs 89,900 per tola. Gold price increased by Rs 300 a tola during the review period compared to the closing rate of Rs 89,600 per tola in the last trading week.

With increasing price of gold, FeNeGoSiDA has urged consumers not to sell their gold jewellery at this time citing liquidity crunch.

Meanwhile, price of the grey metal witnessed fluctuation during the review week.

As per the federation, silver was priced at Rs 935 a tola on Sunday and it declined by Rs 10 per tola on Monday to be traded at Rs 925 a tola. On Tuesday, silver price remained constant, while on Wednesday its price increased by five rupees per tola to Rs 930 a tola.

On Thursday, silver price again went up by five rupees per tola to reach Rs 935 a tola.

However, on Friday, silver price declined by five rupees per tola to close week at Rs 930 a tola.

Silver price declined by five rupees per tola during the review week compared to the closing rate of Rs 935 a tola of the previous trading week.

According to Reuters, gold price gained on Friday as a rise in coronavirus cases raised concerns of a second wave of the pandemic that could compel governments to implement new lockdowns.

Meanwhile, physical gold demand sagged across major Asian hubs as prices resurged this week, although there were expectations that the market may be starting to recover, Reuters reported.

In India, demand remained subdued, with prices trading near record high amid unavailability of public transport in many parts of country. However, in top consumer China, discounts of $10 to $15 were being offered, compared with $5 to $10 an ounce last week.

A version of this article appears in e-paper on June 21, 2020, of The Himalayan Times.