Gold and Silver Prices Increase in Kathmandu Trading Week
Key Highlights :
The trading week between July 9 and 14 saw an increase in the prices of yellow metal and grey metal in Kathmandu. The price of gold was fixed at Rs 111,300 per tola when the market opened for trading on Sunday and remained unchanged until Tuesday. Gold prices increased by Rs 300 a tola on Wednesday before increasing again by Rs 800 per tola to Rs 112,400 a tola on Thursday. The price of yellow metal increased by Rs 100 per tola on Friday to close the trading week at Rs 112,500 a tola.
Meanwhile, silver was traded at Rs 1,395 per tola on Sunday and it remained unchained until Tuesday. The price of the grey metal increased by five rupees a tola on Wednesday before increasing by Rs 40 per tola on Thursday to be traded at Rs 1,440 a tola. The price of silver increased by Rs 40 per tola again on Friday to settle at Rs 1,480 a tola for the week.
The increase in the prices of gold and silver in Kathmandu was in line with international trends. According to international news agencies, gold prices eased on Friday but were on track for their biggest weekly gain since April, after signs of slowing US inflation raised expectations of a pause in Federal Reserve's interest rate hikes after this month. Bullion hit its highest since June 16 earlier this week after data showed US consumer prices in June registered their smallest annual increase in over two years, prompting bets Federal Reserve could soon end its ratehike cycle. Benchmark US yields edged up, making non-yielding bullion less attractive to investors. But cushioning the fall in gold prices, the dollar was on track for its biggest weekly decline since November.
The increase in the prices of gold and silver in Kathmandu is likely to continue in the coming weeks as the international market remains volatile. Investors should keep an eye on the international market and make informed decisions before investing in gold and silver.
