Gold price down Rs 3,800 as silver loses Rs 170 per tola - myRepublica

AI desk brief

Nepal domestic gold prices fell Rs 3,800 per tola last week to Rs 294,800, while silver dropped Rs 170 per tola to Rs 4,450. The move was consistent with a global rates headwind: Reuters said gold weakened as 10-year U.S. Treasury yields rose to their highest since 2002, making non-yielding assets less attractive.

Within the week, gold posted three up days, including a Rs 2,800 gain on Wednesday, but that was overwhelmed by a Rs 5,000 decline on Sunday. The price action leaves the near-term tone bearish for precious metals if elevated U.S. yields persist.