Gold price increases by Rs 200 per tola on Wednesday
The price of gold has increased by Rs 200 per tola in the domestic market on Wednesday.
According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 120, 700 per tola today. It was traded at Rs 120, 500 per tola on Tuesday.
Meanwhile, tejabi gold is being traded at Rs 120, 100 per tola. It was traded at Rs 119, 900 per tola.
Similarly, the price of silver has dropped by Rs 10 and is being traded at Rs 1,475 per tola today.
Investments of insurance companies rise to Rs 627bn
Insurance companies have collectively invested over Rs 600bn across various sectors until the fiscal year 2022/2023.
Data compiled by the Nepal Insurance Authority (NIA) shows that life and non-life insurance companies have invested Rs 627bn by mid-July 2023. Investments of insurance companies increased by 18.95 percent in 2022/23. Such investments were Rs 527bn at the end of 2021/22.
Officials of NIA say insurance companies are investing by adhering to the investment guidelines brought by the insurance regulatory body. A major chunk of such investments seems to be in the form of fixed deposits.
Lately, they have started to invest in commercial banks and airline companies, among others. Asian Life Insurance recently acquired a 40 percent stake in the domestic carrier, Yeti Airlines, by paying Rs 1.75bn.
The NIA has been encouraging insurance companies to invest in sectors that deliver higher returns so that insured individuals get better returns.
Non-insurance companies have made total investments of Rs 568bn, a growth of 20 percent from Rs 473bn in 2021/22.
According to the NIA, about 77 percent of investments of life insurance companies, or Rs 437bn, is in the form of fixed deposits with Class ‘A’, Class ‘B’, and Class ‘C’ financial institutions as well as infrastructure banks licensed by the Nepal Rastra Bank. Likewise, about 7 percent of their investments, or Rs 41.34bn, is in preference shares, bonds, debentures, and treasury bills, among others.
Similarly, non-life insurance companies have invested Rs 58.85bn in different sectors by mid-July 2023. This is a growth of 9 percent compared to 2021/22 when they had invested Rs 53.91bn.
About 80 percent of investments of non-life insurance companies, or Rs 47.44bn, is in the form of fixed deposits with Class ‘A’, Class ‘B’, and Class ‘C’ financial institutions and infrastructure banks licensed by the central bank. They have invested about Rs 2.87bn, which is nearly 5 percent of their total investments, in ordinary shares listed on the Nepal Stock Exchange.
Gold price increases by Rs 600 per tola on Tuesday
The price of gold has increased by Rs 600 per tola in the domestic market on Tuesday.
According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 120, 500 per tola today. It was traded at Rs 119, 900 per tola on Monday.
Meanwhile, tejabi gold is being traded at Rs 119,900 per tola. It was traded at Rs 119, 350 per tola.
Similarly, the silver is being traded at Rs 1, 485 per tola.
Gold being traded at Rs 119, 900 per tola on Monday
The gold is being traded at Rs 119, 900 per tola in the domestic market on Monday.
According to the Federation of Nepal Gold and Silver Dealers’ Association, tejabi gold is being traded at Rs 119, 350 per tola.
Similarly, the silver is being traded at Rs 1,475 per tola today.
