KATHMANDU, Nov 29: The price of gold in the domestic market increased Rs 8,900 per tola (11.6638 grams) last week.
According to the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA), the market price of gold increased to Rs 250,600 from Rs 241,700 tola when the market closed the previous week. On Sunday, the precious yellow metal increased Rs 2,900, while the price decreased by Rs 1,900 on Monday, followed by an increase of Rs 5,200 On Tuesday. The price again increased Rs 9,00 on Wednesday, declined by Rs 400 the next day. The price of precious yellow metal inclined by Rs 2,200 on Friday to close for the week.
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The FENEGOSIDA said gold price last week was affected by a multiple factors including number of countries considering diverse assets than the US dollar for their reserves and shrunk in investment sectors, which made investors attract towards gold. “In addition, the stronger demand observed in Indian market was the reason behind soaring price of gold,” reads the FENEGOSIDA issued weekly report.
Along with gold, the price of silver also inclined by Rs 245 per tola in Nepali market. The price climbed to Rs 3,345 from Rs 3,100 per tola in the review period.
