KATHMANDU, Aug 24: The gold prices reached a new record before declining towards the end of the week.
Analysts attribute the fluctuations to the impact of international market conflicts, improvements in the US economy and a rise in the stock market. The price, which hit a new high on Wednesday, the fourth day of the week, saw a slight decline in the following days as short-term investors began to take profits.
Tourists' arrival up at Kanchenjunga base camp
In the Nepali market, gold prices set record after record this week. On Sunday– the first day of the week–, gold was priced at Rs 152,600 per tola, setting a new record.
By Wednesday, the price rose to a new high of Rs 153,000 per tola. However, the price declined in the following two days. On Friday, the last trading day of the week, it was set at Rs 151,400 per tola. This represents a decrease of Rs 1,200 per tola compared to the price at the beginning of the week.
This week, silver prices in the Nepali market also experienced a slight decrease. On Sunday, the price was Rs 1,810 per tola, and by Friday, it had settled at Rs 1,815 per tola.
Continue with Google