The price of precious metals increased in the trading week between October 30 and November 5.

In the domestic market, gold price rose by Rs 100 per tola, while silver gained Rs 25 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 93,000 per tola when the market opened for trading on Sunday and remained unchanged on Monday. The price of the precious yellow metal increased by Rs 100 a tola on Tuesday before increasing again by Rs 500 per tola on Wednesday. Its price fell on Thursday by Rs 400 a tola before dropping again by Rs 100 per tola on Friday to close the week at Rs 93,100 a tola.

Meanwhile, silver was traded at 1,200 per tola on Sunday and its price remained same on Monday as well. The price of grey metal increased by Rs 15 a tola on Tuesday, as per the FeNeGoSiDA. The price of the grey metal increased again by five rupees per tola on Wednesday to Rs 1,225 a tola before decreasing to Rs 1,215 per tola on Thursday. Silver price went up by Rs 10 a tola on Friday to settle at Rs 1,225 per tola in the review week.

According to Reuters, gold prices surged three per cent on Friday as the dollar fell after data showing an uptick in the US unemployment rate in October raised optimism the Federal Reserve would be less aggressive on rate hikes going forward.

"Physical gold demand in neighbouring India eased this week with jewellers awaiting a dip in domestic prices to stock up for the wedding season following a festival rush, while premiums in China stayed elevated due to lack of fresh quotas."

A version of this article appears in the print on November 6, 2022 of The Himalayan Times.