KATHMANDU, July 4: The price of gold in the domestic market decreased by Rs 11,600 per tola (11.6638 grams) amid a weakening US dollar and a reduction in returns on US government bonds.
According to the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA), the market price of gold increased to Rs 290,700 from Rs 279,100 per tola when the market closed the previous week. The gold price, which had escalated on the first day of the week, declined over the next three days. On the last two days—Thursday and Friday—the market value of the precious metal inclined to close the week-long trading.
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The price of silver also slid by Rs 435 last week, declining from Rs 4,180 to Rs 4,615 per tola.
According to FENEGOSIDA, the bullion prices in the review period were also affected by a positive development on the ceasefire between the USA and Iran, which led to an improvement in oil supply.
