KATHMANDU, MAY 20
The prices of yellow metal and silver decreased in the trading week between May 14 and 19.
In the domestic market, gold price decreased by Rs 1,600 per tola, while silver price fell by five rupees 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 110,800 per tola when the market opened for trading on Sunday and it increased by Rs 200 a tola on Monday. Its price increased by Rs 100 per tola on Tuesday before decreasing by Rs 1,100 a tola on Wednesday. On Thursday, gold price fell by Rs 300 per tola and again by Rs 500 a tola on Friday to close the trading week at Rs 109,200 per tola.
Meanwhile, silver was traded at Rs 1,375 a tola on Sunday and its price remained unchanged till Tuesday.
On Wednesday, its price fell by five rupees a tola to Rs 1,370 per tola.
The price of grey metal remained unchanged for rest of the week.
According to international news agencies, gold rallied one per cent on Friday, recouping some losses from earlier this week, on renewed worries about the stability of the banking sector, while traders slashed bets for another interest rate hike following remarks from the US Federal Reserve chairman. Markets now see an 82 per cent chance of the Fed holding rates until July. Gold was on course for its worst week since February, down about 1.5 per cent so far, after a series of robust economic data.
A version of this article appears in the print on May 21, 2023, of The Himalayan Times.
