KATHMANDU, Nov 1: The price of gold in the domestic market fell Rs 2,900 per tola (11.6638 grams) last week amid declining price of precious metal in the international market.
According to the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA), the price stood at Rs 241,900 on Sunday, while it decreased to Rs 239,000 per tola on Friday. The price fell by Rs 2,000 on Monday, followed by Rs 2,900 per tola on Tuesday. On Wednesday, gold price went down by Rs 700, while it remained stable on the next day. On Friday, the gold price however surged Rs 2,700 to close for the week’s trading.
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The FENEGOSIDA said the price of yellow metal was corrected with multiple factors in the global market. “Ease in geopolitical tension, positive moves seen in trade war between China and the USA, and increased price of the US dollar due to improved confidence of investors were among the reasons that helped drive gold price accordingly.”
Meanwhile, the price of silver inclined Rs 45 per tola. Over the period, the price of the precious metal increased to Rs 3,060 from Rs 3,015 per tola in Nepali market.
