Gold Climbs Rs 2,000 per Tola in Nepal; Silver Gains Rs 175
Gold prices in Nepal rose by Rs 2,000 per tola over the past week, closing at Rs 303,100, according to FENEGOSIDA. Silver also gained Rs 175 per tola, reaching Rs 4,775, supported by a rebound in international gold prices.
KATHMANDU, Sept. 19: The price of gold in the domestic market increased by Rs 2,000 per tola (11.6638 grams) over the past week.
According to the Federation of Nepal Gold and Silver Dealers' Association (FENEGOSIDA), gold was traded at Rs 303,100 per tola at the close of the week, up from Rs 301,000 per tola a week earlier.
During the review period, gold prices rose on three trading days and declined on three others. The largest single-day increase of Rs 3,600 per tola was recorded on Friday, while the steepest decline of Rs 2,300 per tola occurred on Thursday.
According to a Reuters report, international gold prices rose by more than two percent last week, rebounding from a near six-week low. Easing oil prices and a weaker US dollar helped support the rise in the price of the precious metal.
Meanwhile, silver prices also moved higher. The price of silver increased by Rs 175 per tola over the week, reaching Rs 4,775 from Rs 4,600 per tola.