Nepal | July 04, 2020

Prices of precious metals decline

Himalayan News Service
Share Now:

Kathmandu, November 9

Bullion trading is gradually on the rise as its price declined soon after the festive season ended. Prices of gold and silver went down in the trading week between November 3 and 8.

As per Federation of Nepal Gold and Silver Dealers’ Association, gold was traded at Rs 71,200 per tola on Sunday. On Monday, the price declined by Rs 200 per tola to Rs 71,000 a tola  and further dipped the next day by Rs 200 a tola to settle at Rs 70,800 per tola.

As per FeNeGoSiDA, gold fell on Tuesday, en route to its biggest one-day dip in over a month expecting the US to drop tariffs on Chinese imports. Giving continuity to the drop, the price of the yellow metal settled at Rs 70,200 per tola on Wednesday, declining by Rs 600 a tola.

However, on Thursday the price went up by Rs 400 a tola to Rs 70,600 per tola. On Friday, price of precious metal again fell by Rs 700 per tola to close the week at Rs 69,900 per tola.

Gold price fell by Rs 1,300 per tola during the review period compared to Rs 71,200 a tola the previous week.

As per Reuters, gold extended losses to a three-month low on Friday as positive developments in US-China trade tarnished its safe-haven appeal, putting it on track for biggest weekly decline in three years.

Meanwhile, in India gold buying picked up in the review week as a correction in prices revived demand in the world’s second biggest consumer, while buying interest was tepid in other Asian centres, Reuters reported.

In the review period, price of silver also fell. As per FeNeGoSiDA, silver was traded at Rs 870 per tola and remained constant the next day. On Tuesday, however, price of the grey metal dropped by five rupees per tola and reached Rs 865 a tola. Silver price again fell on Wednesday by Rs 20 a tola to Rs 845 per tola. However, price of silver rose by five rupees a tola on Thursday to Rs 850 per tola. On Friday, though, price again descended by Rs 15 per tola to close the trading week at Rs 835 a tola.

Silver price declined by Rs 35 per tola in the review period compared to Rs 870 per tola in the previous week.

A version of this article appears in print on November 10, 2019 of The Himalayan Times.

Follow The Himalayan Times on Twitter and Facebook

Recommended Stories:

More from The Himalayan Times:

City honour Liverpool - then hammer them 4-0

MANCHESTER: Manchester City generously applauded new champions Liverpool onto the field before their Premier League match on Thursday -- and promptly showed no mercy by thrashing them 4-0 at the Etihad stadium. With the title secured a week ago, there was little at stake for Juergen Klo Read More...

Real Madrid close on title as Ramos late show sinks Getafe

MADRID: Real Madrid captain Sergio Ramos kept his nerve to score a late penalty and secure a hard-fought 1-0 home win over Getafe on Thursday for a sixth consecutive La Liga victory to take his side one step closer to winning the title. Ramos coolly passed the ball into the net to brea Read More...

File photo of the headquarters of the World Health Organisation in Geneva

Pay attention to mental health, prevention of suicide: WHO

Kathmandu, July 2 With the COVID-19 pandemic still spreading and impacting people in multiple ways, World Health Organisation today called upon South-East Asia region countries, including Nepal, to pay greater attention to mental health and suicide prevention. “Hitting lives and livelihoods, Read More...

Government urged to make transport service effective

Workers in transportation sector face risk of losing their livelihood as the service is yet to resume KATHMANDU, JUNE 2 National Assembly lawmakers have drawn the attention of the government to the need of making transport service effective by adopting required health safety measures as life h Read More...

EU, UNICEF to prevent malnutrition in Nepal

KATHMANDU, JULY 2 European Union and UNICEF have expanded their partnership on nutrition to prevent malnutrition in children due to the socio-economic impact of the pandemic. Socio-economic impact of the COVID-19 crisis has pushed many vulnerable families across Nepal into deeper poverty and h Read More...

Bill proposing facilities for local reps tabled

POKHARA, JULY 2 Amid protest from the opposition party, a bill was tabled in the Provincial Assembly meeting of Gandaki Province proposing facilities for local level representatives today. Minister of Internal Affairs and Law Hari Bahadur Chuman tabled the bill which proposed facilities for me Read More...

Girls join hands to fight against drug abuse

KAPILVASTU, JUNE 2 Girls of Shivapur of Shivaraj Municipality in Kapilvastu district have joined hands against drug addiction. Girls associated with Gautam Kishori Sambad, Saraswoti Kishori Sambad and Nabadurga Kishori Sambad located in Shivapur have launched campaign to control drug addiction Read More...

Officer, Public Service Commission, Government officer,

Upset Nayab Subbas vow to continue protest

KATHMANDU, JULY 2 Nayab Subbas (non-gazetted first class officers) have threatened to continue nationwide protest until their demands are met. They have demanded revision in a few provisions proposed in the Federal Civil Service Bill, passed recently by the State Affairs and Good Governance Co Read More...