Gold price up, silver steady
Kathmandu, August 26
The price of gold inched up while that of silver remained steady in the week between August 20 and 25.
In the international market, gold price saw some fluctuations towards the mid-week amid concerns over President Donald Trump’s threats to shut down the US government and withdraw from North American Free Trade Agreement (NAFTA).
However, price of precious metals steadied towards end of the week as markets turned their attention to Jackson Hole Economic Policy Symposium, which started on Friday, even as many strategists did not foresee any major policy changes from the central bankers attending the annual retreat.
In the domestic market, the Federation of Nepal Gold and Silver Dealers’ Association (FeNeGoSiDA) had set the rate of gold at Rs 55,300 per tola on Sunday and its price remained the same the following day. Bullion price rose by Rs 200 a tola to Rs 55,500 per tola on Tuesday. The price of precious yellow metal, however, dipped by Rs 100 a tola to Rs 55,400 per tola on Wednesday and it was traded at the same rate for the remainder of the week. Compared to its price on Sunday, gold price rose by Rs 100 a tola at the end of the week, but compared to its trading rate of Rs 55,500 per tola last Friday, bullion price dipped by Rs 100 a tola.
FeNeGoSiDA had fixed silver price at Rs 750 per tola on Sunday and its price was unchanged the next day. The price of grey metal bobbed for the remainder of the week though. It went up by five rupees a tola to Rs 755 per tola on Tuesday, dipped by five rupees a tola to Rs 750 per tola on Wednesday, inched up by five rupees a tola to Rs 755 per tola on Thursday and again edged down by five rupees a tola to Rs 750 per tola on Friday — the same rate at which it was traded in the beginning of the week. Compared to the closing of the previous week, however, silver price dipped by five rupees a tola.