Kathmandu, January 14
Gold price increased, while that of silver went down in the trading week between January 8 and 13. In the domestic market, gold price rose by Rs 600 per tola, while silver price fell by Rs 25 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 103,300 per tola when the market opened for trading on Sunday before increasing by Rs 600 a tola on Monday. The price of the precious yellow metal decreased by Rs 400 a tola on Tuesday before falling further by Rs 300 per tola on Wednesday. Its price increased by Rs 200 a tola on Thursday before increasing by Rs 500 per tola to settle at Rs 103,900 a tola on Friday, the last trading day of the week.
Meanwhile, silver was traded at Rs 1,385 per tola on Sunday and its price rose by Rs 10 a tola on Monday. The price of grey metal decreased by Rs 25 a tola on Tuesday and remained unchanged on Wednesday. On Thursday, silver prices fell by five rupees a tola before increasing by five rupees per tola on Friday to settle at Rs 1,365 a tola for the week, as per the FeNe- GoSiDA.
According to international news agencies, gold prices scaled an over eight-month peak on Friday, holding above the key pivot of $1,900 per ounce, as cooling US inflation raised hopes for slower interest rate hikes from the Federal Reserve.
Data on Thursday showed that US consumer prices fell for the first time in more than two-and-a-half years in December. Lower interest rates tend to be beneficial for bullion, decreasing the opportunity cost of holding the non-yielding asset.
A version of this article appears in the print on January 15, 2023, of The Himalayan Times.
