Gold, Silver Prices Drop Slightly – The Himalayan Times – Nepal’s #1 English Daily
KATHMANDU, APRIL 30
The price of precious metals declined in the trading week between April 24th and 29th.
On the domestic market, gold fell by 1,700 rupees per tola, while silver fell by 40 rupees per tola in the week under review.
According to the Federation of Nepal Gold and Silver Dealers Association (FeNeGoSiDA) price list, gold was priced at Rs 100,500 per tola when the market opened for trading on Sunday. The price of the yellow precious metal fell by 300 rupees per tola to 100,200 rupees per tola on Monday. Gold prices fell to 99,300 rupees per tola on Tuesday and 99,000 rupees per tola on Wednesday. The yellow metal fell to Rs 98,000 a tola on Thursday.
On Friday, however, it recouped some of its earlier losses. The yellow metal price rose by Rs 1,200 per tola to close the week at Rs 99,200 per tola on the last trading day. Similarly, silver was trading at Rs 1,360 a tola on Sunday.
Its price fell by 10 rupees per tola to 1,350 rupees per tola on Monday according to FeNe-GoSiDA and remained unchanged the next day. The gray metal’s price moved south for the remainder of the week. It fell by 10 rupees a tola to 1,340 rupees a tola on Wednesday and by 20 rupees a tola to 1,320 rupees a tola on Thursday. The gray metal price was unchanged on Friday.
Gold prices rallied a percent on Friday after the dollar slipped, according to Reuters, but the metal was expected to end the month lower on bets that the US Federal Reserve would aggressively tighten monetary policy.
Spot gold was up 0.9 percent to $1,911.14 an ounce by 1752 GMT. However, it was on track to post a 1.4 percent decline in April, its first monthly decline since January. US gold futures rose 1.1 percent to $1,911.70 an ounce. The dollar index fell 0.7 percent after hitting a 20-year high on Thursday, making gold less expensive for those who hold other currencies, Reuters reported.
A version of this article will appear in the print edition of The Himalayan Times on May 1, 2022.