Prices of precious metals dip

prices-of-precious-metals-dip

KATHMANDU, DECEMBER 12

The prices of slipped in the trading week between December 6 and 11, with ’ sentiment mixed in the international markets.

According to the rate list of of Nepal Gold and Silver Dealers’ Association (FeNEGoSiDA), gold was traded at Rs 92,700 per on Sunday.

Its price fell by Rs 100 a tola to Rs 92,600 per tola on Monday.

On Tuesday, bullion price surged by Rs 1,500 a tola to Rs 94,100 per tola. The price of the precious yellow metal fell over the next two days — down Rs 700 a tola to Rs 93,400 per tola on Wednesday and down Rs 900 a tola to Rs 92,500 per tola on Thursday. Gold price was unchanged on Friday.

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In the international markets, gold prices fell on Monday on overall optimism over this week’s vaccine rollout in Britain and as the dollar bounced off a multi-year low. It steadied near a two-week high on Tuesday as confidence over the rollout of a COVID-19 vaccine countered the market impact of a subdued dollar and hopes for more fiscal stimulus.

Gold eased from a two-week high on Wednesday as encouraging COVID-19 vaccine news dimmed its safe-haven appeal, while investors kept a close watch on developments around a fiscal stimulus deal. The price of precious yellow metal edged lower on Thursday, following a steep sell-off in the previous session, as a breakthrough in long-running US fiscal stimulus negotiations remained elusive.

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