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Saturday, April 27, 2019

Gold, silver prices increase

Kathmandu, April 27

Both gold and silver price witnessed fluctuations in the trading week between April 21 and 26. However, at the end of the week, gold price increased by Rs 700 a tola while that of silver also went up by five rupees per tola.

According to the Federation of Nepal Gold and Silver Dealers’ Association (FeNeGoSiDA), gold was traded at Rs 59,100 per tola in the domestic market on Sunday, while on Monday its price reached Rs 59,600 per tola rising by Rs 500 a tola. However, price of the bullion declined by Rs 300 a tola the next day to Rs 59,300 per tola. It further fell by Rs 100 per tola to Rs 59,200 a tola on Wednesday. On Thursday, however, the price of the yellow metal increased by Rs 400 a tola to Rs 59,600 per tola. It again went up by Rs 200 per tola on Friday to close the week’s trading at Rs 59,800 a tola.

Meanwhile, the domestic market opened on Sunday with silver priced at Rs 725 per tola.

On Monday, it increased by five rupees a tola to Rs 730 per tola.

The price of the grey metal remained constant on Tuesday.

However, silver price declined by Rs 10 a tola and stood at Rs 720 per tola on Wednesday. The next day its price witnessed a gain of five rupees a tola to Rs 725 per tola. The market closed on Friday with silver rising again by five rupees per tola to Rs 730 a tola.

As per FeNeGoSiDA, though the US dollar remained steady in the week, the price of precious metals in the domestic market fluctuated as there was a drop in the global share markets.

Meanwhile, Reuters reported that gold rose on Friday as the dollar fell after data suggested an acceleration of US growth was driven by temporary factors that are likely to reverse in the coming quarters.

In India, the physical gold demand was healthy this week in the run up to a key festival and with the wedding season under way, while other top Asian hubs saw steady interest in bullion as global prices recovered from a 2019 low touched earlier this week.

from Business – The Himalayan Times http://bit.ly/2L6hrQg

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