Gold, silver prices increase

Kathmandu, October 19

The price of gold and silver increased slightly in the trading week between October 13 and 18.

As the international market is looking forward to the United States and China to sort out their trade war, the price of bullion went up slightly in the review period in the domestic market, stated the Federation of Nepal Gold and Silver Dealers’ Association (FeNeGoSiDA).

As per FeNeGoSiDA, the yellow metal was traded at Rs 70,100 per tola on Sunday. On Monday, gold price went down by Rs 100 a tola to be traded at Rs 70,000 per tola showing some hope for a price drop in the domestic market. However, on Tuesday the price again increased by Rs 700 a tola to be traded at Rs 70,700 per tola.

On Wednesday, price of the precious yellow metal went down by Rs 100 a tola to Rs 70,600 per tola and it remained constant till Friday.

According to FeNeGoSiDA, gold price was relatively stable in the international market after Monday, hence the domestic price of the bullion also remained steady towards the end of the review period.

According to Reuters, gold steadied on Friday, helped by a weaker dollar, with the possibility of a no-deal Brexit, uncertainties over US-China trade and fears of a global slowdown keeping bullion on track for a small weekly gain.

Meanwhile, silver was traded at Rs 845 a tola on Sunday and it remained constant on Monday. On Tuesday, its price went up by Rs 15 per tola to be traded at Rs 860 a tola. However, the price of the grey metal slipped by Rs 10 per tola to Rs 850 a tola on Wednesday. Although silver price dropped by five rupees per tola to Rs 845 a tola on Thursday, it recouped the loss the very next day to close the week at Rs 850 per tola.