KATHMANDU, Nov 14: The price of gold in the domestic market declined Rs 11,300 per tola (11.6638 grams) last week.
According to the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA), the market price of gold decreased to Rs 271,700 from Rs 283,000 per tola when the market closed the previous week.
Dhanteras sparkles in Birgunj with transactions of gold and sil...
Over the period, the price of precious metal witnessed the largest single-day fall of Rs 12,600 on Friday, while the price inclined Rs 1,300 on Sunday. On the rest of the weekdays, the gold price remained stable.
As per the report of Reuters, an international media outlet, gold prices fluctuated last week due to combined effects of the price of petroleum products, inflation rate and interest rates. “Gold prices slid three percent on Thursday alone, extending losses for a third straight session to hit a more-than-one-year low, as oil prices climbed on fading hopes for peace in the Middle East that spurred fears of higher inflation and elevated interest rates,” Reuters reports.
The price of silver decreased Rs 110 last week, sliding from Rs 3,810 to Rs 3,700 per tola.
