KATHMANDU, Nov 7: The price of gold in the domestic market inclined Rs 2,700 per tola (11.6638 grams) last week.
According to the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA), the market price of gold increased to Rs 283,000 from Rs 280,300 per tola when the market closed the previous week.
Gold and silver prices drop
Over the period, the price of precious metal inclined for four days, with the largest increase of Rs 13,300 was recorded on Thursday. In the two-day fall, the largest decline of Rs 8,300 was noted on Sunday.
As per the report of Reuters, an international media, gold price last week was influenced by multiple factors including the fluctuation in oil prices and US payrolls issue. During the first half the US dollar and treasury yields weakened after lower oil prices eased inflation concerns, while investors awaited key US payrolls data for rate policy clues. However, in the second half of the week, US payrolls data reinforced expectations that the Federal Reserve could keep interest rates higher for longer, boosting the dollar and Treasury yields, according to Reuters.
The price of silver decreased Rs 15 last week, sliding from Rs 3,825 to Rs 3,810 pe
