Gold price fell Rs 2,100 per tola this week

Himal Press 26 Apr 2024
Gold price fell Rs 2,100 per tola this week

KATHMANDU: Gold price fell down by Rs 2,100 per tola (11.664 grams) this week. The yellow metal was traded at Rs 137,200 per tola on Friday.

According to the Federation of Nepali Gold and Silver Dealers’ Associations, the price, however, is expected to go up next week as market analysts have said there is pressure on the price of yellow metal due to deepening conflict in the Middle East.

Trading opened on Sunday with gold priced at Rs 139,300 per tola. The price fell to Rs 138,720 on Monday and further to Rs 135,500 on Tuesday. Although gold price went up nominally to Rs 136,000 per tola on Wednesday, it again fell to Rs 135,800 before going up by Rs 137,200 on Friday – the last trading day of the week.

Gold price is up by 0.43% to $2,327 per troy ounce in the international market during early trading on Friday. This is down by 2.39% compared to last week, but 6.95% higher compared to a month ago, according to Forbes.

The price of silver also fell by Rs 65 per tola Rs 1,665 per tola this week.

Since Nepal meets all its gold and silver demand through imports, any change in price in the international market is directly reflected in the domestic market.

The federation fixes the price of gold and silver in the domestic market by 11 am every day except on Saturday.


Published On: 26 Apr 2024


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