Gold Prices Reach Record Highs in International Market
KATHMANDU, July 20: This week, gold prices have surged to new record highs in the international market. Analysts attribute the upward trend to signals from the Federal Reserve System of the United States about potential interest rate cuts and the impact of tariff policies proposed by presidential candidate Donald Trump.
Domestic Market Fluctuations
In the domestic market, gold prices have set new records each day. On Sunday, gold was priced at Rs 146,700 per tola. By Monday, the price had risen to Rs 146,900 per tola. On Tuesday, a new record was set with gold priced at Rs 147,800 per tola. By Wednesday, the price reached Rs 149,800 per tola. However, the price dropped slightly on Thursday to Rs 149,500 per tola and further decreased to Rs 147,500 per tola on Friday, marking a Rs 2,000 drop per tola.
Silver Prices Decline
In contrast, the price of silver in the domestic market decreased this week. On Sunday, silver was priced at Rs 1,875 per tola. It rose to Rs 1,885 per tola on Monday but then fell back to Rs 1,875 per tola on Tuesday. On Wednesday, the price increased to Rs 1,895 per tola. However, on Thursday, it declined to Rs 1,860 per tola and further dropped to Rs 1,830 per tola on Friday, reflecting a decrease of Rs 30 per tola.
Insight
The fluctuation in gold and silver prices can be influenced by a variety of factors including global economic conditions, geopolitical events, and currency fluctuations. Investors often turn to gold as a safe-haven asset in times of uncertainty, which can drive up the demand and subsequently the price of gold. On the other hand, silver prices can be more volatile due to its dual nature as both a precious metal and an industrial metal, making it susceptible to changes in industrial demand and investor sentiment.
