We use Google Cloud Translation Services. Google requires we provide the following disclaimer relating to use of this service:
This service may contain translations powered by Google. Google disclaims all warranties related to the translations, expressed or implied, including any warranties of accuracy, reliability, and any implied warranties of merchantability, fitness for a particular purpose, and noninfringement.
During the week, the price of gold has decreased by 5 thousand 800 rupees per tola. Kiranbhai Bajracharya, General Secretary of Nepal Gold and Silver Traders Federation, said that the price of gold was 195 thousand 200 per tola last Sunday and it was fixed at 189 thousand 400 per tola on Friday.
He said that the price of gold has decreased by 5 thousand 800 rupees per tola compared to Sunday.
The price of gold has decreased not only in Nepal but also in the world market. According to Reuters, the price of gold in the United States fell by 2 percent only last Thursday. Analysts have said that the gold price has fallen after the US-China trade agreement showed signs of a reduction in risk.
Investors' interest in gold, which is considered safe, increased after the US-China trade war signaled an increase. Therefore, even though the price of gold has increased globally, after the US-China trade agreement, there are signs that the risk will decrease, the price of gold decreased by 2 percent last Thursday, according to Reuters.
At 2 o'clock local time, the price of spot gold decreased by 1.5 percent to $3,277.17. On Thursday, US gold futures decreased by 1.8 percent to 3,287.6 dollars. Daniel Pavlian, senior strategist at RJO Futures, said that the slowdown in geopolitics, negotiations with China and recent developments in the Middle East have created opportunities for investors to make profits.
The market has positively accepted the agreement reached between the US and China on the transportation of rare mineral elements to the US. The cease-fire agreement between Iran and Israel that started in the Middle East is still valid.
A stable geopolitical and economic environment reduces the attractiveness of gold, which is considered a safe haven, pushing investors towards riskier assets, analysts say. Spot silver was down 1.4 percent and platinum was down 5.3 percent. But this week the price of silver and platinum was on the rise.
The price of silver has increased by 5 rupees per tola in the week. Silver, which was traded at 2,160 rupees per tola last Sunday, remained at 2,165 rupees per tola on Friday. According to the federation data, silver was traded at 2 thousand 170 rupees per tola on Monday and 2 thousand 175 rupees per tola on Thursday.
