Kathmandu, April 29
The prices of yellow metal and silver decreased in the trading week between April 23 and 28.
In the domestic market, gold price decreased by Rs 200 per tola, while silver prices 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 109,300 per tola when the market opened for trading on Sunday and it fell by Rs 200 a tola on Monday. Its price increased by Rs 400 per tola on Tuesday before increasing further by Rs 200 a tola on Wednesday. On Thursday, gold price fell by Rs 100 per tola and again by Rs 500 a tola on Friday to close the trading week at Rs 109,100 per tola.
Meanwhile, silver was traded at Rs 1,440 a tola on Sunday and its price fell by Rs 20 per tola on Monday. The price of the grey metal remained unchanged on Tuesday before decreasing by five rupees a tola on Wednesday. The price remained unchanged on Thursday but decreased by five rupees per tola on Friday to rest at Rs 1,410 a tola for the week.
According to international news agencies, gold bounced back on Friday on a dip in yields and renewed concerns over the US banking turmoil, putting the safe haven on course for its second monthly rise even as steady US inflation reinforced bets for an interest rate hike next week.
Gold had scaled a one-year peak of $2,048.71 in mid-April as the banking crisis unfolded.
The dollar is headed for a monthly decline, making bullion cheaper for overseas buyers.
A version of this article appears in the print on April 30, 2023, of The Himalayan Times.
