Gold moody, silver stable

KATHMANDU: Gold price in Nepali market experienced ups and downs, responding to the exchange rates of Nepali rupee and US dollar this week. Changing international economics also supported the trend.

According to Nepal Gold and Silver Dealers’ Association (NEGOSIDA), gold price decreased by Rs 260 this week per 10 gram with the highest price on Wednesday (Rs 23,750) and lowest on Friday (Rs 23,405). Earlier, on last Friday, gold price closed at Rs 23,665 for per 10 gram.

Nepali bullion market opened at Rs 23,535 (per 10 gram) on Sunday and slipped to Rs 23,490 on the next two trading days. It gained Rs 260 on Wednesday and traded at Rs 23,750 per 10 gram, which was the highest rate of the week. In traditional Nepali measurement system, one Tola (11.664 grams) of gold was traded for between Rs 27,300 and Rs 27,700.

The precious yellow metal was traded on Sunday at Rs 23,535 (per 10 grames) while the price fell on Monday and Tuesday to Rs 23,490. Price hike was seen on Wednesday when gold was traded at Rs 23,750 per 10 gram. Thursday and Friday experienced fall and gold was traded at Rs 23,535 and 23,405 respectively.

International gold price had a fall of $19 between Sunday and Friday. The price of an ounce of gold was $933 on Sunday and $913 on Friday with some ups and downs during the week days. Back home, silver stayed stable throughout the week. Silver traded at Rs 356 (per 10 gram) from Sunday to Friday.