Share Now:
KATHMANDU, JULY 18
Bullion price in the domestic price surged slightly during the trading week between July 13 and 17.
According to the Federation of Nepal Gold and Silver Dealers’ Association (FeNeGoSiDA), gold was traded at Rs 92,100 a tola on Sunday and went up by Rs 200 per tola on Monday to Rs 92,300 a tola. On Tuesday, gold price declined by Rs 100 a tola to reach Rs 92,200 per tola, however the next day price of the yellow metal increased by Rs 600 per tola to Rs 92,800 a tola.
On Thursday, gold price slightly declined to Rs 92,700 per tola falling by Rs 100 a tola. On Friday it further declined by Rs 500 a tola to close the week at Rs 92,200 per tola.
Gold price, however, remained steady compared to the closing rate of Rs 92,200 per tola in the previous trading week.
Along with the surge in the price of gold the domestic market has remained quite empty with only a few customers visiting gold shops to purchase jewellery. Most people are still visiting shops to sell their gold ornaments, FeNeGoSiDA stated.
Meanwhile, in the international market, gold price jumped, poised for its sixth consecutive weekly gain, as a recordbreaking rise in coronavirus infections in the US fuelled uncertainly about an economic recovery, while a weaker greenback also added support, Reuters reported.
It further reported that physical bullion remained out of favour this week among consumers in top hubs China and India in the grip of coronavirus, while investors in Singapore and Japan bought gold and silver to safely park their wealth.
Meanwhile, silver price surged during the review period in the domestic market.
As per FeNeGoSiDA, silver was priced at Rs 980 per tola on Sunday and ascended by Rs 10 a tola on Monday to Rs 990 per tola. On Tuesday, it again rose by five rupees a tola to Rs 995 a tola and the next day it gained Rs 10 per tola to Rs 1,005 a tola. On Thursday, silver remained steady.
However, on Friday silver price declined by Rs 10 a tola to close the trading week at Rs 995 per tola. Silver price surged by Rs 15 per tola during the review period compared to the closing rate of Rs 980 a tola in the previous week.
A version of this article appears in e-paper on July 19, 2020, of The Himalayan Times.