KATHMANDU, SEPTEMBER 19
The price of precious metals jumped in the trading week between September 13 and 18, boosted primarily by weakening of the greenback.
According to the rate of Federation of Nepal Gold and Silver Dealers’ Association (FeNeGoSiDA), gold was traded at Rs 96,500 per tola on Sunday. On Monday, its price went up by Rs 400 a tola to Rs 96,900 per tola as the dollar weakened, while expectations around US Federal Reserve maintaining its dovish monetary policy this week boosted safe haven metal’s allure in the international markets.
Gold slipped from a near-two week high in international markets on Tuesday as the dollar rose, although hopes for a dovish monetary policy stance from the US Federal Reserve limited the safe-haven metals’ losses. In Nepal, however, bullion price rose by Rs 600 a tola to Rs 97,500 per tola that day.
In the international markets, gold prices rose on Wednesday, helped by a subdued dollar as investors bet on dovish monetary cues from the US Federal Reserve when it was scheduled to announce its policy decision later that day. Bullion price remained steady in domestic market on Wednesday.
On Thursday, gold prices fell as the dollar climbed after the US Federal Reserve painted a favourable economic recovery picture but stopped short of offering concrete signals on further stimulus.
Following the same trend, the price of precious yellow metal slumped by Rs 900 a tola to Rs 96,600 per tola in the domestic market on Thursda