Nepal | January 18, 2021

Price of precious metals rises

Himalayan News Service
Share Now:

KATHMANDU, JANUARY 9

Despite staging a sharp U-turn and closing the week with heavy losses, the bullish momentum in the first half of the week propped up the price of precious metals in the trading week between January 3 and 8.

According to the rate list of the Federation of Nepal Gold and Silver Dealers’ Association (FeNeGoSiDA), gold was traded at Rs 94,500 per tola on Sunday.

Its price went up by Rs 800 a tola to Rs 95,300 per tola on Monday, surged by Rs 1,100 a tola to Rs 96,400 per tola on Tuesday, and rose by Rs 300 a tola to Rs 96,700 per tola on Wednesday.

On Thursday, however, bullion price slumped by Rs 1,300 a tola to Rs 95,400 per tola and fell by Rs 100 a tola on Friday to close the trading week at Rs 95,300 per tola.

The price of the precious yellow metal went up by 0.85 per cent or Rs 800 a tola during the review week.

In the international markets, gold began the new year by climbing two per cent on Monday, as the dollar slid to 2018 lows and prospects of tougher restrictions to combat a new variant of the coronavirus kept safe-haven bullion in demand.

Gold hit a two-month high on Tuesday, buoyed by a weaker dollar and growing concerns about COVID-19 as investors awaited outcome of US Senate runoff elections in Georgia that could impact prospects for more fiscal stimulus.

Bullion price tumbled on Wednesday, hit by rebound in dollar as US Treasury yields surged, with investors betting on Democrat win in US Senate.

Gold prices eased on Thursday as a surge in US Treasury yields and firm dollar dampened demand for the bullion, although losses were limited by hopes for more fiscal stimulus after Democrats won control of the US Senate. The precious yellow metal accelerated its slide on Friday, slumping around three per cent and dragging down other precious metals as a jump in US Treasury yields hammered bullion’s safe-haven appeal.

As per FeNeGoSiDA, silver was priced at Rs 1,300 per tola on Sunday. Its price surged by Rs 25 a tola to Rs 1,325 per tola on Monday, went up by Rs 10 a tola to Rs 1,335 per tola on Tuesday and rose by five rupees a tola to Rs 1,340 per tola on Wednesday. Silver price, however, fell by Rs 10 a tola to Rs 1,330 per tola on Thursday and was unchanged on Friday.

The price of the grey metal jumped by 2.31 per cent or Rs 30 a tola over the six days of the review period.

 


A version of this article appears in print on January 10, 2021 of The Himalayan Times.


Follow The Himalayan Times on Twitter and Facebook

Recommended Stories:

More from The Himalayan Times:

gold prices

Gold Price down by Rs 700 per tola on Sunday

KATHMANDU: The price of the gold has dropped by Rs 700 per tola in the domestic market, today. According to the Federation of Nepal Gold and Silver Dealers' Association (FeNeGoSiDA), the yellow metal was traded at Rs 91,800 per tola on Sunday. It was priced at Rs 92,500 per tola on Friday. Tej Read More...

Five Covid-19 fatalities recorded today, death-tally shifts to 1,959

KATHMANDU: The nationwide coronavirus death-toll has advanced to 1,959 with five more fatalities reported on Sunday. Globally, 2.02 million people have lost their lives to Covid-19 while more than 94.5 million people have been infected by the novel coronavirus. Today, 266 new cases surfaced a Read More...

266 new Covid-19 cases registered on Sunday; nationwide tally hits 267,322

KATHMANDU: Nepal on Sunday reported 266 new cases of coronavirus infection from across the country. With this, the nationwide infection count has advanced to 267,322. Of the total cases, 91 are females while 175 are males. In the last 24 hours, 177 cases surfaced in Kathmandu valley. The capi Read More...

Kathmandu Valley logs 177 new COVID-19 cases on Sunday

KATHMANDU: The three districts of Kathmandu valley reported as many as 177 new cases of the coronavirus infection on Sunday. This accounts for about 66.5% of the total 266 new infections recorded today. Kathmandu alone recorded 145 new cases while Lalitpur and Bhaktapur registered 23 and nine Read More...

319 Nepalis living abroad have succumbed to Covid-19 thus far: NRNA

KATHMANDU: Two more Nepalis living abroad died from coronavirus infection in the past week. According to Non-Resident Nepali Association (NRNA), one person passed away in London while the other one died in South Africa. According to the Health Committee under NRNA, with the latest fatalities, Read More...

India's COVID-19 vaccination drive hits bump due to app glitch

SATARA/BHUBANESWAR: India’s COVID-19 vaccination drive hit a bump on the first day due to glitches in an app called Co-Win that is being used to coordinate the campaign, according to several officials involved in the immunisation programme. Prime Minister Narendra Modi launched what his governmen Read More...

clouds above singhadarbar due to low-pressure system

Weather to remain cloudy for a few more days

KATHMANDU: Weather has been partly to generally cloudy in some places of the country due to influence of low pressure system developed in northern Bangladesh and surrounding areas. Senior meteorologist at the Department of Hydrology and Meteorology, Nirajan Sapkota, shared that a completely clea Read More...

Nepal Covid Update: 266 new cases, 400 recovered, five deaths on Sunday

KATHMANDU: Nepal’s Health Ministry shared the latest updates on coronavirus contagion from across the country. Till date, 2,012,452 tests through Polymerase Chain Reaction (PCR) method have been carried out wherein 3,508 tests were performed in the last 24 hours. Read Also: Kathmandu Valley Read More...