Gold price declines by Rs 200 to trade at Rs 118,300

KATHMANDU: The price of fine gold decreased to Rs 118,300 per tola, a fall of Rs 200 from yesterday’s price, according to Federation of Nepal Gold & Silver Dealers’ Association (FENEGOSIDA). Likewise, Tejabi gold declined to Rs 117,750 per tola while silver fell to Rs 1,395 per tola in the domestic markets with a decline of Rs 5. 

The bullion remained in negative territory during the global trading session. The uncertainties surrounding the Federal Reserve interest rate might boost gold ahead of major reports emerging from the USA. 

Looking forward, gold will be influenced by CB Consumer Confidence at 20:45 NST on Tuesday and Prelim GDP (q/q) at 19:15 NST on Wednesday. The week will close with Unemployment Claims, ISM Manufacturing PMI and Revised UoM Consumer Sentiment reports.