Kathmandu, February 4

The price of gold increased while that of silver was unchanged in the trading week between January 29 and February 3. In the domestic market, gold price rose by Rs 100 per tola during the week.

According to the rate list of Federation of Nepal Gold and Silver Dealers' Association (FeNeGoSiDA), gold price was fixed at Rs 106,000 per tola when the market opened for trading on Sunday before increasing by Rs 300 a tola on Monday. The price of the precious yellow metal fell by Rs 500 a tola on Tuesday before climbing back to Rs 106,300 per tola on Wednesday. Its price surged by Rs 1,200 per tola on Thursday to a fresh all-time high of Rs 107,500 a tola. The price of precious yellow metal slumped by Rs 1,400 per tola overnight to be traded at Rs 106,100 a tola on Friday, the last trading day of the week.

Meanwhile, silver was traded at Rs 1,365 per tola on Sunday and its price remained same till Tuesday. Its price rose by five rupees a tola on Wednesday and jumped by Rs 25 per tola on Thursday before retreating to its former trading price of Rs 1,365 per tola on Friday, as per the FeNeGoSiDA.

According to international news agencies, gold prices dropped over two per cent on Friday to a more than threeweek low after stronger-than-expected US jobs data raised fears that the Federal Reserve could keep hiking interest rates. The dollar jumped 1.1 per cent, reaching a three-week high and making gold a less attractive bet. The yield on 10-year Treasury notes also climbed.

A version of this article appears in the print on February 5, 2023, of The Himalayan Times.