KATHMANDU, JULY 29
The price of yellow metal increased while that of silver fell in the trading week between July 23 and 28.
In the domestic market, gold price increased by Rs 300 per tola whereas the price of the grey metal dropped by Rs 15 a tola during the review week.
According to the rate list of the Federation of Nepal Gold and Silver Dealers' Association (FeNeGoSiDA), gold price was fixed at Rs 112,300 per tola when the market opened for trading on Sunday and went on to decrease by Rs 300 a tola on Monday. The price of yellow metal increased by Rs 200 per tola on Tuesday before increasing again by Rs 500 a tola to Rs 112,700 per tola on Wednesday. The price of yellow metal decreased by Rs 200 a tola on Thursday before increasing by Rs 100 per tola to settle at Rs 112,600 a tola for the trading week.
Meanwhile, silver was traded at Rs 1,465 per tola on Sunday and it decreased by five rupees a tola on Monday to be traded at Rs 1,460 per tola. On Tuesday, the price of the grey metal decreased again by five rupees a tola before increasing by Rs 10 per tola on Wednesday.
The price of silver went up by Rs 25 a tola on Thursday to be traded at Rs 1,490 per tola but went on to decrease by Rs 40 a tola on Friday to settle at Rs 1,450 per tola for the week.
According to international news agencies, gold rose on Friday after a sharp fall one day earlier, helped by a slight retreat in the dollar as signs of cooling US inflation raised bets that the Federal Reserve will likely end its monetary tightening cycle.
Higher interest rates and Treasury bond yields raise the opportunity cost of holding non-yielding gold.
But the European Central Bank, while delivering its ninth consecutive interest rate hike on Thursday, also raised the possibility of a pause in September.
A version of this article appears in the print on July 30, 2023, of The Himalayan Times.
