Kathmandu, April 15
The price of yellow metal and silver increased in the trading week between April 9 and 13.
In the domestic market, gold price surged by Rs 800 per tola, while silver prices rose by Rs 10 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 110,000 per tola when the market opened for trading on Sunday. Its price decreased by Rs 700 a tola on Monday. On Tuesday, gold price rose by Rs 500 per tola and soared further by Rs 1,000 a tola on Wednesday to be traded at Rs 110,800 per tola. Gold price remained unchanged on Thursday and was not reviewed on Friday as the market remained closed in celebration of Nepali New Year 2080 BS. Thus, the precious yellow metal closed the trading week at Rs 110,800 per tola.
Meanwhile, silver was traded at Rs 1,440 a tola on Sunday and its price decreased by Rs 10 per tola on Monday. The price of the grey metal went up by five rupees a tola on Tuesday and increased again by Rs 15 per tola on Wednesday. Silver price remained unchanged on Thursday to rest at Rs 1,450 a tola for the week.
According to international news agencies, gold prices pulled back sharply on Friday after surging to a more than one-year peak in the last session, as the dollar bounced and a Federal Reserve official flagged the need for another interest rate hike. But analysts said bullion's outlook remained positive, following the stellar run over the past couple of sessions amid growing recession worries that could prompt the Fed to eventually end its rate-hike cycle.
A version of this article appears in the print on April 16, 2023, of The Himalayan Times.
