KATHMANDU, JUNE 11
The price of precious metals declined in the trading week between June 5 and 10.
In the domestic market, gold price fell by Rs 200 per tola, while silver price dropped by Rs 10 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 97,900 a tola when the market opened for trading on Sunday and its price went up by Rs 200 a tola to be traded at Rs 98,100 per tola on Monday. The price of the precious yellow metal fell by Rs 600 a tola to Rs 97,500 per tola on Tuesday. The gold price remained unchanged on Wednesday before increasing by Rs 500 per tola on Thursday to be priced at Rs 98,000 a tola. The price of precious yellow metal decreased to Rs 97,700 a tola on Friday.
Similarly, silver was traded at 1,275 per tola on Sunday and its price went up by Rs 15 a tola to be traded at Rs 1,290 per tola on Monday. But its price fell again by Rs 15 per tola to Rs 1,275 a tola on Tuesday, as per the FeNeGoSiDA. The price of the grey metal increased by five rupees per tola on Wednesday and remained unchanged on Thursday. On Friday, silver was traded at Rs 1,265 per tola.
According to Reuters, gold prices bounced back in volatile trading on Friday, as focus turned to economic risks after elevated US inflation readings bolstered bets for aggressive interest rate hikes.
Spot gold rose 1.4 per cent to $1,873.58 per ounce by 2:40pm EDT (1840 GMT). US gold futures settled up 1.2 per cent at $1,875.50. US consumer prices accelerated in May, suggesting the Federal Reserve could continue with its 50 basis points rate hikes through September, sending gold to its lowest since May 19 at $1,824.63.
A version of this article appears in the print on June 12, 2022, of The Himalayan Times.