KATHMANDU, Sept 12: The price of gold in the domestic market decreased by Rs 6,400 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 301,000 from Rs 307,400 per tola when the market closed the previous week.
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Over the period, the price of precious metal went down for four days, with the largest decline being observed on Friday when the price declined by Rs 4,800. In the remaining two days, the price escalated by Rs 3,500 on Tuesday.
As per the report of Reuters, an international media, gold price was affected by multiple factors during the review period. These included strong US jobs data and possible increase in interest rate by the Federal Reserves behind the decline in gold price. On the other hand, the possible rise in the US inflation data due to the escalated oil price resulting from the fuelled up of US-Iran war took the gold price in an upward graph for a few days.
The price of silver decreased Rs 165 last week, decreasing from Rs 4,765 to Rs 4,600 to per tola.
