Nepal | July 16, 2020

Gold, silver prices rise slightly

Himalayan News Service
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Kathmandu, September 21

The price of gold and silver rose slightly in the trading week between September 15 and 20. The bullion price went up in the domestic market as the dollar became softer in the international market.

As per the Federation of Nepal Gold and Silver Dealers’ Association (FeNeGoSiDA), gold price was set at Rs 70,200 per tola on Sunday. On Monday, price of the yellow metal increased by Rs 1,100 a tola to be traded at Rs 71,300 per tola and
it remained constant till Wednesday.

However, on Thursday gold price went down by Rs 600 per tola to settle at Rs 70,700 a tola. According to FeNeGoSiDA, gold price on Wednesday went down in the international market as investors remained cautious after the US Federal Reserve cut interest rates as expected but delivered mixed signals about its next move.

However, the price again rose by Rs 300 per tola on Friday to close the market at Rs 71,000 a tola.

As per Reuters, gold edged higher on Friday, heading for its first weekly rise in four,
as investors focused on Middle East tensions while palladium hit a record peak on short supply.

However, FeNeGoSiDA expects the price of the yellow metal to decline in the coming days.

The gold price went by Rs 400 per tola in the review period compared to the closing price of Rs 70,600 a tola in the previous week.

Meanwhile, silver price also increased in the review week.

As per the federation, price of the grey metal was Rs 840 per tola when the market opened on Sunday and reached Rs 865 a tola the next day going up by Rs 25 a tola and it remained constant on Tuesday. Giving continuity to the rise in its price, silver reached Rs 870 per tola on Wednesday going up by five rupees a tola.

However, silver price declined by Rs 15 a tola on Thursday to settle at Rs 855 a tola. On Friday, the price again went up by five rupees a tola to close the week’s trading at Rs 860 per tola.

Silver price declined by Rs 10 per tola in the review period as compared to
the previous trading week’s closing rate of Rs 870 a tola.

A version of this article appears in print on September 22, 2019 of The Himalayan Times.

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