Kathmandu, March 4
The price of yellow metal and silver increased in the trading week between February 26 and March 3.
In the domestic market, gold price increased by Rs 500 per tola, while silver gained five rupees 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 102,000 per tola when the market opened for trading on Sunday. Its price fell by Rs 200 a tola on Monday and remained unchanged on Tuesday. The price of the precious yellow metal increased by Rs 500 per tola on Wednesday before increasing again by Rs 300 a tola again on Thursday.
Its price fell by Rs 100 per tola on Friday to close the trading week at Rs 102,500 a tola.
Meanwhile, silver was traded at Rs 1,260 per tola on Sunday and its price fell by five rupees a tola on Monday. The price of the grey metal remained unchanged on Tuesday before increasing by Rs 15 per tola on Wednesday. The price remained unchanged on Thursday before falling by five rupees a tola on Friday to settle at Rs 1,265 per tola for the week.
According to international news agencies, gold prices climbed to a two-week high on Friday and were heading for their first weekly rise in five as a pullback in the US dollar and Treasury yields offered some respite from prospects of more rate hikes from the Federal Reserve.
The US dollar index was headed for its first weekly loss in five, making bullion more attractive for other currency holders, while benchmark US 10-year yields crept lower from near a four-month peak
A version of this article appears in the print on March 5, 2023, of The Himalayan Times.