KATHMANDU, JUNE 17
The price of yellow metal and silver decreased in the trading week between June 11 and 16.
In the domestic market, gold price decreased by Rs 700 per tola, while silver price fell by Rs 30 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 112,500 per tola when the market opened for trading on Sunday. Gold prices fell by Rs 100 a tola on Monday before increasing by Rs 300 per tola to Rs 112,700 a tola on Tuesday. The price of yellow metal decreased by Rs 900 per tola on Wednesday before decreasing again by Rs 800 a tola on Thursday. On Friday, gold prices rose by Rs 800 a tola to close the trading week at Rs 111,800 a tola.
Meanwhile, silver was traded at Rs 1,455 per tola on Sunday and remained unchanged on Monday. The price of the grey metal fell by five rupees a tola on Tuesday before decreasing further by Rs 25 per tola on Wednesday. Its price fell by Rs 20 a tola on Thursday before increasing by Rs 15 per tola on Friday to settle at Rs 1,425 a tola for the week.
As per international news agencies, gold prices were choppy on Friday as investors juggled a hawkish Federal Reserve outlook on interest rates, which offset support from the dollar's overall retreat this week.
Weighing on appeal for zero-yield bullion, traders now saw a 74 per cent chance of a rate hike in July, according to the CME's FedWatch tool.
The hawkish comments seemed to counter support from both the dollar and weak jobless claims data on Thursday, as gold kept swinging back and forth between positive and negative territory.
A version of this article appears in the print on June 18, 2023, of The Himalayan Times.
