Bullion price sees roller coaster ride
Kathmandu, November 3:
With greenback losing its beat and crude prices touching a new historic high of $96, gold price in the domestic market also saw a roller coaster ride this week.
Though the price of precious yellow metal rose by Rs 10 per 10 gram in the local bullion market to close at Rs 16,340 from the opening price of Rs 16,350, the trading of hallmark gold registered a surprising trend during the week as it closed at Rs 16,435 on the second day, Rs 16,290 on the third day, Rs 16,225 on fourth day, Rs 16,500 on the fifth day and closed at Rs 16,340 after falling by Rs 160 on the sixth day on Friday, according to Nepal Gold and Silver Dealers’ Association’s (NEGOSIDA). The gold price rose in the wake of further weakening of US dollars and continues rise in the crude price in the international markets, states the NEGOSIDA’s report.
In the international market, the gold price went up to $796 per ounce this week.