Gold prices fall as US dollar strengthens and inflation is controlled

Published On: June 15, 2024 04:40 PM NPT By: Republica  | @RepublicaNepal


KATHMANDU, June 15: The price of gold in the global market saw a decline this week. Analysts attribute this decline to the strengthening of the US dollar and the anticipated control of the inflation rate by the US Federal Reserve Board.

The price of gold remained stable for the first three days of the week, increased slightly on the fourth day, stayed stable on the fifth day, and then fell on the sixth day.

In the domestic market, gold prices also started dropping this week. On Sunday, the first day of the week, the price was Rs 141,000 per tola and remained stable until Tuesday. On the fourth day, the price increased to Rs 141,600 per tola, remained stable on Thursday, and decreased to Rs 141,200 per tola on Friday, the last trading day of the week. 

Similarly, the price of silver in the domestic market has also decreased this week. On Sunday, the price of silver was Rs 1,825 per tola, and it dropped to Rs 1,800 per tola by Friday.

 


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