Gold, silver prices increase on weaker greenback – The Himalayan Times

The price of precious metals increased in the trading week between November 27 and December 2. In the domestic market, gold price increased by Rs 1,300 per tola, while silver price increased by Rs 50 a tola during the review week.
According to the rate list of Federation of Nepal Gold and Silver Dealers' Association (FeNeGoSiDA), gold price was fixed at Rs 97,800per tola when the market opened for trading on Sunday and decreased by Rs 300 a tola on Monday. The price of the precious yellow metal decreased further by Rs 100 per tola on Tuesday before increasing by Rs 200 a tola on Wednesday. Its price increased by Rs 500 per tola on Thursday before increasing by Rs 1,000 a tola on Friday, the last trading day of the week.
Meanwhile, silver was traded at Rs 1,295 per tola on Sunday and its price fell to Rs 1,285 a tola on Monday.
The price of grey metal remained unchanged on Tuesday before increasing by five rupees per tola on Wednesday. The price of silver metal increased by Rs 40 a tola on Thursday, before increasing to Rs 1,345 per tola on Friday, as per the FeNeGoSiDA.
According to Reuters, gold prices slipped on Friday, retreating from a near-four month high, after robust US jobs data fanned concerns that the Federal Reserve might stick with its aggressive monetary policy tightening.
Gold prices have risen about 2.5 per cent this week in what would be their second straight weekly gain.
The dollar index held steady but was headed for a weekly loss of about one per cent, weighed down by expectation that the peak in US interest rates was on the horizon.
A weaker greenback makes dollar-priced gold less expensive for overseas buyers.
A version of this article appears in the print on December 4, 2022, of The Himalayan Times.
© 2021 The Himalayan Times


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