Kathmandu, April 16

Gold price remained stable while silver price went up by Rs 30 per tola over the week, from April 10 to 15.

The market opened on Sunday with gold price fixed at Rs 54,500 per tola. Gold price increased by Rs 500 a tola on Monday and was traded at Rs 55,000 per tola. Its price hit a three-week high on Tuesday, up Rs 200 to Rs 55,200 a tola.

Bullion price was not revised as per international market rates on Wednesday due to public holiday of Nepali New Year.

On Thursday, gold price dropped by Rs 700 per tola to Rs 54,500 a tola. Price of precious yellow metal remained unchanged on Friday — the last trading day of the week.

Gold price lost gains made in the beginning of week due to strengthening of US dollar and global equities, which curbed appetite for safe-haven metal, as per  Reuters.

The Federation of Nepal Gold and Silver Dealers’ Association (FeNeGoSiDA) has said that the signs of improvement in global economy, mainly the United States and China, lured the investors in stock market from bullion market.

There are signs of improvement in the US economy as the unemployment rate of non-agriculture sector has remained at the projected level since last 58 weeks. The improvement in the US economy has been luring investors towards stock market.

On the other hand, the second largest economy — China — has recently publicised the improved status of industrial production and export. Investors in China have also been attracted towards the stock market due to positive signs in the Chinese economy, as per FeNeGoSiDA.

Likewise, price of silver went up by Rs 30 per tola during the five trading days of week.

The market opened on Sunday with silver price fixed at Rs 715 per tola. The price of precious white metal edged up by five rupees on Monday and was traded at Rs 720 a tola.

Similarly, silver price shot up by Rs 15 per tola on Tuesday to be fixed at Rs 735 a tola.

On Thursday — the trading day following the Nepali New Year — price of the white metal rose by Rs 10 a tola to Rs 745 per tola. Silver price remained unchanged on Friday to close the week’s trading at Rs 745 per tola — recording a gain of 4.19 per cent over the week.