Kathmandu, April 2

Gold and silver prices slipped by Rs 400 and Rs 10 per tola, over the week, from March 27 to April 1.

Negative interest rate in Japan and European countries somehow attracted investors towards gold as a safe investment haven. However, demand of gold declined due to the US Fed’s cues on possible move of rate hike from next week. As a result, gold price slightly declined in the international market due to appreciation of the US dollar, according to Federation of Nepal Gold and Silver Dealers’ Association.

The prices of the precious metals in domestic market are governed by the rates set in the international market.

The market opened on Sunday with gold price fixed at Rs 54,400 per tola. Price of the precious yellow metal dropped by Rs 200 a tola on Monday and was traded at Rs 54,200 per tola and remained unchanged on Tuesday. Gold price, however, edged up on Wednesday by Rs 300 per tola to Rs 54,500 a tola. Bullion price again slumped by Rs 500 on Thursday to Rs 54,000 per tola and remained stable on Friday.

Likewise, price of silver also dropped by Rs 10 per tola during the five trading days of week.

The market opened on Sunday with silver price fixed at Rs 720 per tola and its price remained same till Wednesday. Price of white metal fell by Rs 10 a tola on Thursday to be traded at Rs 710 per tola. Silver price remained same on Friday.