Price of precious metals falls
Kathmandu, March 16
The price of gold came down by Rs 500 pertola while silver price too declined by Rs 10 atola over the trading week between March 10 and 15.
As per the Federation of Nepal Gold and Silver Dealers’ Association (FeNeGoSiDA), gold was traded at Rs 60,500 pertola in the domestic market on Sunday. Though the price of gold remained unchanged on Monday, it fell by Rs 200 atola on Tuesday to settle at Rs 60,300 pertola. However, price of the yellow metal increased by Rs 300 pertola the next day to Rs 60,600 atola. On Thursday, gold price came down by Rs 100 atola to Rs 60,500 pertola. Gold price plummeted by Rs 500 pertola on Friday to close the week’s trading at Rs 60,000 atola.
Meanwhile, silver price was fixed at Rs 745 pertola in the domestic market on Sunday. Silver price remained constant till Thursday and came down by Rs 10 pertola on Friday to close week’s trading at Rs 735 atola.
As per Reuters, the price of gold is expected to rise to $1,532 an ounce by October next year, delegates to the London Bullion Market Association’s annual gathering predicted on Tuesday.
A poll of delegates at the LBMA conference in Boston also predicted higher prices in a year’s time for silver, platinum and palladium.
Spot gold has had a difficult few months, falling from a high of $1,366.07 in January to as low as $1,159.96 in August as the dollar strengthened and the US Federal Reserve pushed ahead with interest rate rises.
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