KATHMANDU, JUNE 10
The prices of yellow metal and silver increased in the trading week between June 4 and 9. In the domestic market, gold price increased by Rs 900 per tola, while that of silver rose by Rs 40 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 111,600 per tola when the market opened for trading on Sunday and remained unchanged the next day. Its price surged by Rs 900 a tola on Tuesday before rising further by Rs 200 per tola on Wednesday. On Thursday, gold price slumped by Rs 1,000 a tola before increasing again by Rs 800 per tola on Friday.
Meanwhile, silver was traded at Rs 1,415 a tola on Sunday and its price re-ne mained unchanged on Monday.
The price of the grey metal increased by five rupees per tola on Tuesday and remained unchanged on Wednesday as well. The price of silver decreased by five rupees a tola on Thursday before jumping by Rs 40 per tola on Friday to rest at Rs 1,455 a tola for the week.
According to international news agencies, gold eased on Friday on a stronger dollar and higher yields but was set for its best week since early May after weaker jobs data bolstered bets for the Federal Reserve to hold pat on interest rates next week.
The dollar index bounced off two-week lows, making gold expensive for overseas buyers, while higher 10-year Treasury yields made zero-yield bullion less attractive.
China raised its gold reserves for a seventh straight month to 67.27 million fine troy ounces by May-end.
A version of this article appears in the print on June 11, 2023, of The Himalayan Times.
