Kathmandu, February 18
The price of yellow metal and silver decreased in the trading week between February 12 and 17.
In the domestic market, gold price decreased by Rs 1,500 per tola, while silver lost Rs 20 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 104,000 per tola when the market opened for trading on Sunday. The price remained unchanged on Monday before declining by Rs 200 a tola to be traded at Rs 103,800 per tola on Tuesday. The price of the precious yellow metal decreased by Rs 200 a tola on Tuesday before falling by Rs 200 per tola again on Wednesday. Its price fell further by Rs 600 a tola on Thursday before dropping again by Rs 500 a tola on Friday to close the trading week at Rs 102,500 per tola.
Meanwhile, silver was traded at Rs 1,295 a tola on Sunday and its price remained unchanged on Monday and Tuesday. The price of grey metal decreased by five rupees per tola on Wednesday and again on Thursday to Rs 1,285 a tola. On Friday, silver price decreased by Rs 10 per tola to settle at Rs 1,275 a tola for the week.
According to international news agencies, gold prices edged higher on Friday but were still on track for their third straight weekly dip, weighed down by an overall stronger dollar and bond yields following fresh hawkish rhetoric from the US Federal Reserve officials.
Higher interest rates increase the opportunity cost of holding zero-yield bullion. Prices of the precious metal are down about 7.3 per cent since its nine-month peak earlier this month.
A version of this article appears in the print on February 19, 2023, of The Himalayan Times.