Kathmandu, July 28:

Gold price in the local bullion market has dropped by Rs 300 per 10 gram this week with a slight improvement in the value of US dollar.

The trading of precious yellow metal that opened at Rs 14,660 per 10 gram on Sunday closed at Rs 14,360 on Friday, the last day of the weekly trading, according to Nepal Gold and Silver Dealers’ Association (NEGOSIDA).

According to the new price tag, the hallmark gold in the local market costs Rs 16749.50 per tola.

The gold price dropped alongwith the fall in crude prices in the international market as well as a slight improvement in the US dollar, states a weekly bullion report of the NEGOSIDA.

NEGOSIDA, in the report, further states that the market remained constant for two days and the price dropped to Rs 14,640 on Tuesday, which further inched down to Rs 14,615 on Wednesday, Rs 14,490 on Thursday before closing at Rs 14,360 on Friday.

In the international market, the gold price also dropped to $666 per ounce this week from last week’s $675 per ounce.

The price of silver also dropped by two rupees per 10 gram from the opening Rs 295 to Rs 293 on the closing day.