Gold price climbs Rs 100 to stand at Rs 118,500: FENEGOSIDA

KATHMANDU: In the latest update, gold and silver prices have increased slightly to end the week on a bullish note.

According to Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA), price of fine gold stood at Rs 118,500 per tola, a gain of Rs 100 from the previous day. Likewise, Tejabi gold hiked by a similar amount to record Rs 117,950 per tola. 
Meanwhile, poor man’s gold or silver increased by Rs 20 to reach Rs 1,390 per tola. 

As per Department of Labor (USA), number of individuals who filed for unemployment insurance fell for the first time in three weeks to stand at 218K, a drop of 9000 from the previous report. However, the report was overshadowed by non-disclosure speeches of Fed officials who did not provide any concrete timeline for rate cuts.