Nepal | October 15, 2019

Gold, silver prices stay steady

Himalayan News Service

Kathmandu, July 6

Gold price remained steady in the domestic market during the trading week between June 30 and July 5.

Though US President Donald Trump and his Chinese counterpart Xi Jinping did hold talks during the recently concluded Group of 20 summit in Osaka, Japan, there is still uncertainty on whether the two economic giants will put an end to their trade war.

Hence, investors are still waiting for the trade war to end so that they can invest in other sectors. Due to this reason the gold price has remained constant this week, according to the Federation of Nepal Gold and Silver Dealers’ Association (FeNeGoSiDA).

As per FeNeGoSiDA, gold was priced at Rs 65,000 per tola on Sunday.

However, on Monday the price of the yellow metal fell by Rs 500 per tola to be traded at Rs 64,500 a tola and it remained constant the next day.

On Wednesday, price of the bullion again went up by Rs 500 a tola to be traded at Rs 65,000 per tola. After that the price remained constant till Friday to close the week’s trading at Rs 65,000 per tola.

Even in the previous trading week gold price had closed at Rs 65,000 per tola.

Meanwhile, silver price also remained steady in the review week. As per FeNeGoSiDA, the grey metal was traded at Rs 730 per tola on Sunday and it remained constant till Tuesday.

On Wednesday, silver price went up by five rupees a tola to settle at Rs 735 per tola.

However, on Thursday the price fell by five rupees per tola to be traded at Rs 730 a tola and it remained the same on Friday to close the week’s trading at Rs 730 a tola.

As per Reuters, gold prices were steady on Friday, heading for a seventh consecutive weekly rise, as investors waited for US employment data that could influence expectations about aggressive policy easing by the Federal Reserve.


A version of this article appears in print on July 07, 2019 of The Himalayan Times.


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