Kathmandu, December 31
Gold and silver prices increased in the trading week between December 25 and 30. In the domestic market, gold price increased by Rs 900 per tola, while silver price increased by five rupees 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 100,500 per tola when the market opened for trading on Sunday and it remained unchanged on Monday. The price of the precious yellow metal increased by Rs 200 a tola on Tuesday before increasing again by Rs 400 per tola on Wednesday. Its price decreased by Rs 200 a tola on Thursday before increasing by Rs 500 per tola to settle at Rs 101,400 a tola on Friday, the last trading day of the week.
Meanwhile, silver was traded at Rs 1,390 per tola on Sunday and its price remained unchanged till Tuesday. The price of grey metal increased by Rs 10 a tola on Wednesday before decreasing by Rs 20 per tola on Thursday. On Friday, silver prices increased by Rs 15 a tola to settle at Rs 1,395 per tola for the week, as per the FeNeGoSiDA.
According to international news agencies, gold prices edged up on Friday as the non-yielding metal is on track to close its best quarter since June 2020 on expectations of slower interest rate hikes by the US Federal Reserve after being beaten down from record highs earlier this year. The market's mood into 2023 will be driven by the response of global central banks to bubbling inflation, analysts said.
A version of this article appears in the print on January 1, 2023, of The Himalayan Times.
