KATHMANDU, Aug 23: The price of gold in the domestic market decreased by Rs 300 per tola (11.6638 grams) last week, due to the pacified bullion price on the international market.
According to the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA), the price of the precious metal fluctuated by Rs 2,800 per tola in the review period. The gold price surged as high as Rs 196,300 per tola on Monday while it went down as low as Rs 193,500 per tola on Wednesday. The price stood at Rs 195,200 per tola on Friday.
Gold price drops after a week reaching Rs 221,300 per tola
The FENEGOSIDA stated that the combined impacts of the falling price of bullion in the international media along with the fluctuation of the price of US dollar are among the reasons for the price change in the domestic market. “Despite the declining price of gold in the international market, the devaluation of Nepali currency against the USD over the period, helped reduce the domestic market price only by a nominal amount,” reads the press statement of the federation.
Meanwhile, the price of silver remained stable at Rs 2,310 per tola. In the review period, the price of silver rose as high as Rs 2,315 per tola, while it plunged as low as Rs 2,255 per tola.
