KATHMANDU, AUGUST 26
The price of yellow and grey metals increased in the trading week between August 20 and 25.
In the domestic market, gold price increased by Rs 800 per tola, while silver price rose by Rs 60 a tola during the review week.
According to the rate list of the Federation of Nepal Gold and Silver Dealers' Association (FeNeGo- SiDA), gold price was fixed at Rs 110,300 per tola when the market opened for trading on Sunday. Its price remained unchanged on Monday and went on to increase by Rs 200 a tola to Rs 110,500 per tola on Tuesday. Gold prices increased by Rs 100 a tola on Wednesday before increasing by Rs 500 per tola to be traded at Rs 111,100 a tola on Thursday. The price of yellow metal remained unchanged on Friday to close the trading week at Rs 111,100 per tola.
Meanwhile, silver was traded at Rs 1,390 a tola on Sunday and its price remained unchained the next day. The price of the grey metal increased by Rs 25 per tola on Tuesday before increasing again by Rs 10 a tola to Rs 1,425 per tola on Wednesday. Silver price increased further by Rs 35 a tola on Thursday before decreasing by Rs 10 per tola on Friday to settle at Rs 1,450 a tola for the week.
As per international news agencies, gold steadied on Friday as it headed for its best week since mid-July, with support lent by a pullback in US bond yields.
Two Fed officials on Thursday noted a good chance that no more rate increases will be needed while tentatively welcoming a jump in bond market yields, as momentum was also building among European Central Bank policymakers for a pause in rate hikes amid deteriorating growth prospects.
A version of this article appears in the print on August 27, 2023, of The Himalayan Times.
