The price of precious metals decreased in the trading week between August 28 and September 2.

In the domestic market, gold price decreased by Rs 2,100 per tola, while silver price also fell by Rs 55 a tola.

According to the rate list of Federation of Nepal Gold and Silver Dealers' Association (FeNeGoSiDA), gold price was fixed at Rs 95,100 per tola on Sunday and decreased by Rs 600 per tola on Monday. The gold price fell to Rs 94,800 a tola on Tuesday before decreasing to Rs 94,000 per tola on Wednesday. The precious yellow metal decreased to Rs 93,100 a tola on Thursday and fell again by Rs 100 a tola on Friday to close the trading week at Rs 93,000 per tola.

Similarly, silver was traded at Rs 1,160 a tola on Sunday and decreased to Rs 1,145 per tola on Monday. Its price remained unchanged on Tuesday. The price of the grey metal fell to Rs 1,130 a tola on Wednesday before falling to Rs 1,100 a tola on Thursday, as per the FeNeGoSiDA. The price of silver rose to Rs 1,105 a tola on Friday.

According to Reuters, gold bounced over one per cent on Friday as the dollar retreated after US jobs data came mostly in line with expectations, but it was still bound for a third consecutive weekly fall pressured by an elevated interest rate environment.

Premiums on physical gold in top consumer China jumped this week amid uncertainty over fresh import quotas, while an uptick in demand following a drop in local prices prompted Indian dealers to charge premiums for the first time in nearly four months.

A version of this article appears in the print on September 4, 2022 of The Himalayan Times.