Gold price rises, silver price stable

Kathmandu-Nepal (Feb 28)  Gold price increased by Rs 1,000 per tola, however, silver remained stable over the week from February 21 to 26. Globally, gold started rallying since the beginning of 2016. “The metal is benefiting as investors seek shelter from financial-market turmoil, declining commodity prices, and prospects for slowing global economic growth,” according to Bloomberg.

Prices of precious metals in domestic market are governed by the rates set in the international market. Price of gold was at the same level that it was two years back in domestic market.

The market opened on Sunday with gold price fixed at Rs 55,500 per tola. The price of the precious yellow metal remained the same on Monday. Bullion price edged up marginally by Rs 200 a tola on Tuesday to be traded at Rs 55,700 per tola. Gold price increased by Rs 300 per tola on Wednesday to be fixed at Rs 56,000 a tola. The price of the yellow metal remained unchanged on Thursday. Gold price again surged by Rs 500 per tola to settle at Rs 56,500 a tola on Friday — the last trading day of the week.

However, the price of silver remained stable during the six trading days of the week. The market opened on Sunday with silver price fixed at Rs 735 per tola. Price of the white metal, however, dropped by five rupees on Monday to be traded at Rs 730 a tola. Price of silver again edged up by five rupees on Tuesday to be fixed at Rs 735 per tola and remained the same till Friday.

Source: TheHimalayanTimes