Price of precious metals fall

price-of-precious-metals-fall

, JANUARY 16

The price action of in the trading week of January 10 to 15 suggests investor indecision and impending volatility in the international markets.

According to the rate list of the Federation of Gold and Silver Dealers’ Association (FeNeGoSiDA), gold was priced at Rs 93,000 per tola on Sunday. Its price fell by Rs 800 a tola to Rs 92,200 per tola on Monday. Bullion nearly recovered the loss over the next two days, by rising Rs 600 a tola to Rs 92,800 per tola on Tuesday and edging up by Rs 100 a tola to Rs 92,900 per tola on Wednesday. On Thursday, the price of the precious yellow metal slumped by Rs 800 a tola to Rs 92,100 per tola, before rising by Rs 400 a tola on Friday to close the trading week at Rs 92,500 per tola.

fell by 0.54 per cent or Rs 500 a tola during the review week.

In the international markets, gold eased on Monday, clamped down by a firm dollar and a rise in US Treasury yields on hopes of more fiscal stimulus.

Its price edged higher in a choppy trading on Tuesday as the US dollar and Treasury yields eased, while prospects of higher inflation driven by more US fiscal stimulus provided further support to the metal.

Bullion price held steady on Wednesday, underpinned by data showing a rise in consumer prices in the and expectations that more fiscal stimulus from a Joe Biden administration could trigger higher inflation.

Gold price edged lower on Thursday as the dollar steadied and US Trea


Read the full story on The Himalayan Times


Read Previous

Nepse crosses new milestones

Read Next

Gold Price down by Rs 700 per tola on Sunday

Got any Comments/ Questions?