KATHMANDU, May 9: The price of gold in the domestic market decreased marginally by Rs 3,800 per tola (11.6638 grams) amid the impact of the ongoing Middle East conflict and attraction towards gold purchase.
According to the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA), the market price of gold rose to Rs 299,900 from Rs 296,100 per tola when the market closed the previous week. On Sunday, the price of the precious metal decreased by Rs 1,000 per tola, which was further declined by Rs 300 and Rs 3,800 on consecutive two days, respectively.
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In the second half of the week, the gold market price inclined throughout the period, On Wednesday, the gold price inclined by Rs 5,800 per tola, followed by gains of Rs 1,800 and Rs 1,300, respectively in the next two days.
The price of silver also increased by Rs 330, from Rs 4,945 to Rs 5,275 per tola.
The FENEGOSIDA said the fluctuations in prices of bullion were due to multiple reasons, that include the ongoing Middle East war, soaring inflation globally and increasing attraction of investors in bullion purchase with the slowdown in share market.
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