KATHMANDU, MAY 14
The price of precious metals declined in the trading week between May 8 and 29.
In the domestic market, gold price fell by Rs 800 per tola, while silver price slumped by Rs 35 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 98,600 per tola when the market opened for trading on Sunday. The price of the precious yellow metal increased by Rs 100 a tola to Rs 98,700 per tola on Monday.
The gold price fell to Rs 98,000 a tola on Tuesday and Rs 97,000 per tola on Wednesday.
The price of precious yellow metal rose by Rs 800 a tola to Rs 97,800 per tola on Thursday.
On Friday, the market remained closed due to the local level elections held across the country.
Similarly, silver was traded at Rs 1,285 a tola on Sunday.
Its price remained unchanged on Monday, as per the FeNe- GoSiDA. On Tuesday, the price of silver fell by Rs 10 per tola to Rs 1,275 a tola and further decreased by Rs 30 per tola to Rs 1,245 a tola the next day. The price of the grey metal however increased by five rupees a tola to Rs 1,250 per tola on Thursday, where it rested for the week.
According to Reuters, gold price fell more than one per cent on Friday and was set for its fourth straight weekly decline, as the dollar's strong run with more aggressive US interest rates on the horizon sapped appetite for bullion.
Spot gold fell 0.7 per cent to $1,808.89 per ounce by 01:54pm EDT (1754 GMT), after hitting its lowest since February 4 at $1,798.86. It has declined nearly four per cent this week. US gold futures settled down 0.9 per cent at $1,808.20.
