Gold price eases to Rs 294,800 as silver ticks up to Rs 5,030
KATHMANDU: Price of gold in the local market eased on Monday while silver recorded a slight uptick, Federation of Nepal Gold and Silver Dealers Association (FENEGOSIDA) said.
According to FENEGOSIDA, gold is trading at Rs 294,800 per tola, down from Rs 295,100 per tola on Sunday. Silver rose marginally to Rs 5,030 per tola from Rs 5,010 a day earlier.
FENEGOSIDA, which regularly updates precious metal rates as a benchmark for dealers nationwide, said the local movements reflect broader trends in international markets.
Spot gold recently dipped to about $4,611 per ounce. The decline is being driven by a firmer US dollar and concerns that high oil prices could stoke inflation and delay interest-rate cuts by the US Federal Reserve.
Global silver showed more resilience, trading near $75.63 per ounce. That has supported the modest rise in domestic silver prices.
Currency strength and macroeconomic signals from major economies continue to influence short-term fluctuations in Nepal’s precious metals market.
