KATHMANDU, NOVEMBER 26
The price of precious metals increased in the trading week between November 21 and November 26. In the domestic market, gold price increased by Rs 300 per tola, while silver price increased 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 97,500 per tola when the market opened for trading on Monday and decreased by Rs 300 a tola on Tuesday. The price of the precious yellow metal decreased further by Rs 400 per tola on Wednesday before increasing by Rs 1,000 a tola on Thursday. Its price remained unchanged on Friday, the last trading day of the week. The market was closed on Sunday due to the elections.
Meanwhile, silver was traded at Rs 1,265 per tola on Monday and its price increased to Rs 1,280 a tola on Tuesday. The price of grey metal fell by five rupees per tola on Wednesday, as per the FeNeGoSiDA. The price of the grey metal increased by Rs 30 a tola on Thursday to Rs 1,305 per tola before decreasing to Rs 1,295 a tola on Friday.
According to Reuters, gold prices were steady below a one-week high hit on Friday as the US dollar firmed, but the non-yielding metal looked set to eke out only a small weekly gain on expectations the US Federal Reserve would scale back its rate-hiking stance.
"Physical gold demand in Asia stayed soft this week, with premiums in top hub China easing further as fresh COVID-19 restrictions dimmed activity while higher domestic prices put off most buyers in India."
A version of this article appears in the print on November 27, 2022, of The Himalayan Times.
