KATHMANDU, AUGUST 20
The price of precious metals fell in the trading week between August 14 and 19 as a stronger US dollar index that is back near its 20-year high scored in July squelched buying interest in the precious metals markets.
In the domestic market, gold price decreased throughout the review week by Rs 2,300 per tola, while silver price also fell by Rs 65 a tola.
According to the rate list of Federation of Nepal Gold and Silver Dealers Association (FeNeGoSiDA), gold price was fixed at Rs 97,800 per tola on Sunday and decreased by Rs 400 per tola on Monday. The gold was traded at Rs 96,700 a tola on Tuesday before decreasing to Rs 96,200 per tola on Wednesday.
The price of precious yellow metal decreased to Rs 95,900 a tola on Thursday before falling further to Rs 95,500 on Friday, which was the closing rate for the week.
Similarly, silver was traded at Rs 1,250 a tola on Sunday and decreased to Rs 1,235 per tola on Monday. On Tuesday, the price of the grey metal rose to Rs 1,220 a tola before decreasing to Rs 1,210 per tola on Wednesday, as per the FeNeGoSiDA. The price of silver fell to Rs 1,195 a tola on Thursday and to Rs 1,185 per tola on Friday.
In neighbouring India, gold demand improved this week as a drop in domestic prices to a more than two-week low allowed dealers to reduce discounts, while volumes were sombre in other Asian centres, Reuters reported.
Next week's big catalyst will be the Federal Reserve Chair Jerome Powell's keynote at the Jackson Hole titled 'Economic Outlook,' which is scheduled for Friday.
A version of this article appears in the print on August 21, 2022 of The Himalayan Times.
