Kathmandu, April 1:

Price of the precious yellow metal touched a record high of Rs 13,550 per 10 grams in the domestic market. The price of gold has increased by Rs 450 during the weekly trading. On Sunday the price of gold was Rs 13,100 per 10 grams.

Gold price had crossed the mark of Rs 13,000 twice during March. On the first closing day of March, the price of the hallmark gold was Rs 13,160.

Though the price of the precious yellow metal declined and posted Rs 12,900 on March 10, it again registered increment and touched Rs 12,970 on March 17.

“Nuclear propaganda, series of terrorist attack in Iraq and rumours of terror spread by Al Qaeda has affected the international gold price,” said Tej Ratna Shakya, president of Nepal Gold and Silver Dealers’ Association. “The demand of gold has also increased by 25 per cent this year,” he said, “Though the stock market is getting stronger, people still are sceptical in investing on stock and are attracted towards investment on gold.”

“The continuous increment in the prices has hit buying and selling activities in the domestic market. The increase in price has forced people to sell gold but the buying activities was almost nill,” said Shakya.

The price of gold in the international market dropped down to $583 on Saturday from $588 on Friday, which is expected to affect the price in the domestic market when it opens tomorrow. The price of silver also witnessed a fair increment throughout the week.

The price of silver that opened at Rs 250.50 per 10 gram on Sunday reached Rs 273 on the closing day.