Rising Demand for Precious Metals in Nepal

During the trading week spanning from August 27 to September 1, the prices of both gold and silver experienced notable increases in Nepal's domestic market.

In this period, the price of gold surged by Rs 800 per tola, while silver saw a tola price hike of Rs 60. According to the rate list provided by the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA), the initial gold price was set at Rs 111,100 per tola when the trading week commenced on Sunday. Maintaining this price on Monday, it then escalated by Rs 600 per tola, reaching Rs 111,700 per tola on Tuesday. Gold prices continued their upward trajectory, marking a further increase of Rs 800 per tola on Wednesday and another Rs 300 per tola on Thursday, reaching Rs 112,800 per tola. However, on Friday, the yellow metal's price experienced a decrease of Rs 300 per tola, closing the week at Rs 112,500 per tola.

Meanwhile, silver started the week at Rs 1,465 per tola on Sunday. Its price dipped by five rupees per tola on Monday but rebounded with a five-rupee increase per tola on Tuesday, reaching Rs 1,485 per tola. On Thursday, silver's price fell by five rupees per tola and further decreased by Rs 10 per tola on Friday, ultimately settling at Rs 1,470 per tola for the week.

According to international news reports, gold initially saw gains on Friday but was still on track for a weekly increase. This was driven by a rise in the US unemployment rate, which fuelled expectations of a pause in the Federal Reserve's interest rate hikes. US bond yields were expected to conclude the week approximately three percent lower, while the dollar appeared poised to break a six-week winning streak, as declining monthly inflation solidified predictions of the Federal Reserve maintaining unchanged interest rates this month.