Gold price drops by Rs 6, 900 per tola on Sunday

The price of gold has dropped by Rs 6, 900 per tola in the domestic market on Sunday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 242, 800 per tola today.  It was traded at Rs 249, 700 per tola on Friday.

Similarly, the silver is being traded at Rs 3, 135 per tola.

 

Gold price drops by Rs 500 per tola on Friday

The price of gold has dropped by Rs 500 per tola in the domestic market on Friday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 249, 700 per tola today.  It was traded at Rs 250, 200 per tola on Thursday.

Similarly, the price of silver has dropped by Rs 60 and is being traded at Rs 3, 285 per tola.

Power tariff dues worth Rs 238.7 million recovered from 35 industries

A total of 25 new industries using electricity through 'dedicated' and 'trunk line' systems during the load-shedding period have started paying their long-held dues in power tariff. 

Additionally, 10 industries that had previously begun settling their debts but halted payments have now resumed their installments. 

Consequently, the Nepal Electricity Authority has collected Rs 238.7 million in overdue payments from the 35 industries, as reported by the Secretariat of the Minister of Energy, Water Resources, and Irrigation. 

The total outstanding debt for these 35 industries amounts to Rs 5945.6. 

The secretariat has indicated that these dues pertain to premium revenue for electricity consumed via dedicated and trunk lines from January 2016 to April 2018. 

Energy Minister Kulman Ghising has said industries have every right to pursue cases with the Electricity Regulatory Commission, courts, and other entities. "We are optimistic that by initiating installment payments, they will adhere to the process." 

The authority had issued a public notice in October, allowing a 21-day window for settling the arrears. When payments were not received within that timeframe, electricity services were suspended in two phases on October 21 and 24.

 

Nepse surges by 1. 13 points on Thursday

The Nepal Stock Exchange (NEPSE) gained 1. 13 points to close at 2, 545. 73 points on Thursday. 

The sensitive index, however, dropped by 0. 15 points to close at 440. 89 points.

A total of 7,605,584-unit shares of 329 companies were traded for Rs 3. 49 billion.

Meanwhile, Mabilung Energy Limited (MABEL) and Swet-Ganga Hydropower & Construction Limited (SGHC) were the top gainers today, with their price surging by 10. 00 percent. 

Likewise, Nepal Micro Insurance Company Limited (NMIC) was the top loser as its price fell by 4. 82 percent.

At the end of the day, total market capitalization stood at Rs 1. 44 trillion.