KATHMANDU, NOVEMBER 12
The price of precious metals increased in the trading week between November 6 and 12.
In the domestic market, gold price increased by Rs 2,200 per tola, while silver gained 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 94,500 per tola when the market opened for trading on Sunday and decreased by Rs 200 a tola on Monday. The price of the precious yellow metal fell again by Rs 300 a tola on Tuesday before soaring by Rs 1,400 per tola on Wednesday. Its price remained unchanged on Thursday before surging by Rs 1,300 a tola to settle at Rs 96,700 per tola on Friday.
Meanwhile, silver was traded at Rs 1,275 a tola on Sunday and its price decreased to Rs 1,265 per tola on Monday. The price of grey metal remained unchanged on Tuesday, as per the FeNeGoSiDA. The price of the grey metal increased by Rs 30 per tola on Wednesday to Rs 1,295 a tola before decreasing to Rs 1,285 per tola on Thursday. Silver price went up by Rs 10 a tola on Friday to settle at Rs 1,295 per tola for the review week.
According to Reuters, gold prices extended gains to a near three-month high on Friday and were heading for their best week in over two-and-a-half years, as signs of cooling US inflation bolstered bets that the Federal Reserve would be less hawkish on rate hikes going forward. The inflation data triggered a sharp fall in the US dollar, which was headed for its biggest two-day drop in almost 14 years, making gold more appealing for other currency holders.
A version of this article appears in the print on November 13, 2022 of The Himalayan Times.
