KATHMANDU, Oct 31: The price of gold in the domestic market plunged Rs 9,900 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 280,300 from Rs 290,200 per tola when the market closed the previous week.
Gold price remains stable, slight increase in silver price in N...
Over the period, the price of precious metal inclined for four days, with the largest increase of Rs 3,000 was recorded on Monday. In the two-day fall, the largest decline of Rs 11,700 was noted on Sunday.
As per the report of Reuters, an international media, gold price last week was influenced by the expectation of the Federal Reserve increasing interest rate to curb inflation in the US market. “Gold price dropped as data showing elevated US inflation reinforced expectations of a Federal Reserve interest rate hike later this year, reducing the appeal of the non-yielding metal.,” Reuters reported.
The price of silver decreased Rs 360 last week, decreasing from Rs 4,185 to Rs 3,825 per tola.
