Kathmandu, January 21
Gold price increased, while that of silver went down in the trading week between January 15 and 20.
In the domestic market, gold price rose by Rs 200 per tola, while silver price decreased by Rs 15 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 105,000 per tola when the market opened for trading on Sunday before increasing by Rs 200 a tola on Monday. The price of the precious yellow metal decreased by Rs 100 a tola on Tuesday before falling further by Rs 600 per tola on Wednesday. Its price remained unchanged on Thursday before increasing by Rs 700 per tola to settle at Rs 105,200 a tola on Friday, the last trading day of the week.
Meanwhile, silver was traded at Rs 1,390 per tola on Sunday and its price rose by Rs 10 a tola on Monday. On Tuesday, the price of grey metal decreased by Rs 10 per tola before dropping further by Rs 15 a tola to 1,375 per tola on Wednesday. Silver prices fell by Rs 20 a tola on Thursday but recouped the loss the very next day to settle at Rs 1,375 a tola for the week, as per the FeNeGoSiDA.
According to international news agencies, gold prices edged lower on Friday as the dollar firmed, although hopes of slower rate hikes from the US Federal Reserve kept bullion on track for its fifth straight weekly gain.
Although the dollar was steady against its rivals, making gold more expensive for holders of other currencies, recent weak US economic readings and hawkish remarks from Fed policymakers fuelled worries over a global slowdown and prompted investors to seek refuge in the safe-haven metal.
A version of this article appears in the print on January 21, 2023, of The Himalayan Times.