Kathmandu, January 7
Gold price increased, while that of silver went down in the trading week between January 1 and 6. In the domestic market, gold price rose by Rs 600 per tola, while silver price decreased by Rs 35 a tola during the review week.
According to the rate list of Federation of Nepal Gold and Silver Dealers' Association (FeNeGoSiDA), gold price was fixed at Rs 101,700 per tola when the market opened for trading on Sunday and remained unchanged on Monday.
The price of the precious yellow metal increased by Rs 900 a tola on Tuesday before increasing by Rs 300 per tola on Wednesday. Its price increased by Rs 200 a tola on Thursday before decreasing by Rs 800 per tola to settle at Rs 102,300 a tola on Friday, the last trading day of the week.
Meanwhile, silver was traded at Rs 1,400 per tola on Sunday and its price remained unchanged on Monday. The price of grey metal increased by Rs 10 a tola on Tuesday before decreasing by Rs 10 per tola on Wednesday.
On Thursday, silver prices fell by Rs 15 a tola before decreasing again by Rs 20 per tola on Friday to settle at Rs 1,365 a tola for the week, as per the FeNeGoSiDA.
According to news agencies, gold prices shot up over one per cent on Friday to seven-month high as Treasury yields and the dollar fell after US economic data cemented expectations of a less-hawkish Fed, setting the metal on track for its third consecutive weekly rise.
In a survey conducted before Christmas, BullionVault users had forecast a gold price of $2,012.60 for the end of 2023, with nearly 38 per cent of the 1,829 full responses pointing to the need to spread risk and diversify users' wider portfolios as the top reason for investing in physical bullion, reports say.
Looking ahead, however, the US dollar will be a key to gold's performance this year.
A version of this article appears in the print on January 8, 2023, of The Himalayan Times.
