KATHMANDU, Feb 21: The price of gold in the domestic market increased Rs 1,200 per tola (11.6638 grams) amid persisting issues of tariff restrictions forwarded by the US for a number of countries.
According to the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA), the market price of gold increased to Rs 304,700 from Rs 303,500 per tola when the market closed the previous week. On Sunday, the market started the weekday trading with a gain of 2,300.
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On Monday, it declined Rs 3,000 followed by a drop of Rs 900 and Rs 1,500 on the consecutive two days. On Thursday, the price of precious yellow metal escalated Rs 4,300, while it remained stable on Friday to close for the week.
Along with gold, the price of silver also increased by Rs 50 per tola in Nepali market. In the review period, the price inclined to Rs 5,050 from Rs 5,000.
According to the FENEGOSIDA, the prices of precious metals in the review period were influenced by the monetary policy adopted by the US Federal Reserve, ongoing tension of global geo-politics and trade war triggered by the high tariff rates successively imposed by the governments of a number of countries.
