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Gold price increases, silver remains constant

As per the Federation of Nepal Gold and Silver Dealers’ Association (FeNeGoSiDA), gold price was fixed at Rs 62,500 per tola on Sunday. Gold
became dearer by Rs 200 a tola to Rs 62,700 per tola on Monday. Though the price of the yellow metal remained constant on Tuesday, it increased by Rs 600 per tola on Wednesday to settle at Rs 63,300 a tola. Meanwhile, gold price came down by Rs 200 per tola on Thursday to Rs 63,100 a tola. On Friday, price of bullion fell by Rs 500 a tola to close at Rs 62,600 per tola.

Meanwhile, the price of silver was fixed at Rs 775 per tola on Sunday. It increased by five rupees per tola on Monday to Rs 780 a tola. Though silver price remained constant on Tuesday, its price increased by five rupees a tola on Wednesday to settle at Rs 785 per tola. The price of the grey metal remained constant on Thursday as well. However, price of silver fell by Rs 10 per tola on Friday to Rs 775 a tola.

As per Reuters, gold rose on Friday enroute to a second weekly gain as the dollar was subdued by weak US economic data and hopes of a breakthrough in the US-China trade dispute, with a darkening global economic outlook bolstering bullion. Spot gold was up 0.3 per cent at $1,327.40 per ounce by 2014 GMT, or about 0.5 per cent higher so far this week. US gold futures settled down 0.4 per cent at $1,332.80 per ounce.

The metal had fallen about one per cent following the release of minutes from the US Federal Reserve’s last policy meeting, which painted a less dovish picture than expected.