Price of precious metals increases marginally

Kathmandu, August 22

The price of precious metals rose in the trading week between August 16 and 21.

According to the Federation of Nepal Gold and Silver Dealers’ Association (FeNeGoSiDA), gold price was set at Rs 98,400 per tola on Sunday and on Monday it declined by Rs 200 a tola to Rs 98,200 per tola.

On Tuesday, gold price surged by Rs 2,200 a tola to Rs 100,400 per tola and it remained constant on Wednesday. On Thursday, gold price stood at Rs 98,800 per tola after slumping by Rs 1,600 a tola. On Friday, gold price remained steady.

Gold price increased slightly by Rs 200 per tola in the review period compared to closing rate of Rs 98,600 a tola in previous trading week.

Reuters reported that gold price has dropped to its lowest in over a week and was enroute to its second straight weekly decline on Friday, as a strong rebound in the dollar and a resurgence in US business activity dented bullion’s allure.

Silver price also rose in the domestic market in review week.

According to FeNeGoSiDA, silver was traded at Rs 1,325 per tola on Sunday and its price fell by Rs 10 a tola on Monday to Rs 1,315 per tola. However on Tuesday, silver price reached Rs 1,380 a tola, going up by Rs 65 per tola.

On Wednesday, silver price declined by five rupees a tola and stood at Rs 1,375 per tola.

The price of grey metal fell by Rs 15 a tola on Thursday to be traded at Rs 1,360 per tola.

However, on Friday, silver price went up by Rs 10 a tola to close the trading week at Rs 1,370 per tola.

Silver price increased by Rs 15 a tola during this trading week compared to the closing rate of Rs 1,355 per tola of the last review period.

---

A version of this article appears in e-paper on August 23, 2020, of The Himalayan Times.

The post Price of precious metals increases marginally appeared first on The Himalayan Times.

from The Himalayan Times https://ift.tt/34nVJ26