Gold price constant, silver declines – Himalayan Times

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Kathmandu, March 23

The price of gold remained constant while the price of silver came down by five rupees per tola over the trading week between March 17 and 22.

As per the Federation of Nepal Gold and Silver Dealers’ Association (FeNeGoSiDA), gold was traded at Rs 60,000 pertola in the domestic market on Sunday. On Monday, the price of gold came down by Rs 200 per tola to Rs 59,800 a tola. The price of the yellow metal plummeted further by Rs 100 a tola on Tuesday to Rs 59,700 pertola. Gold trading was closed on Wednesday following a public holiday in celebration of Fagu Purnima. On Thursday, gold price was fixed at Rs 60,200 pertola. However, the price of the bullion came down by Rs 200 pertola on Friday to close the week’s trading at Rs 60,000 a tola.

Meanwhile, silver was traded at Rs 745 per tola on Sunday. Silver price came down by Rs 15 a tola on Monday to Rs 730 per tola. However, silver price remained constant on Tuesday. Though there was no silver trading on Wednesday following a public holiday, its price was fixed at Rs 740 pertola on Thursday. Silver price remained constant on Friday to close the week’s trading at Rs 740 per tola.

According to Reuters, the price of gold is expected to rise to $1,532 an ounce by October next year, delegates to the London Bullion Market Association’s annual gathering predicted on Tuesday.

A poll of delegates at the LBMA conference in Boston also predicted higher prices in a year’s time for silver, platinum and palladium. Spot gold has had a difficult few months, falling from a high of $1,366.07 in January to as low as $1,159.96 in August as the dollar strengthened and the US Federal Reserve pushed ahead with interest rate rises.


A version of this article appears in print on March 24, 2019 of The Himalayan Times.


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