Gold on a roll, silver no sluggard

Kathmandu, September 26:

This week, gold hit a high of Rs 20,920 in the domestic market. The opening price was Rs 20,575 per 10 gram and the closing price Rs 20,835.

Nepal Gold and Silver Dealers’ Association (NEGOSIDA) said the economic condition of America had not become stable due to which banks and other big companies were suffering and even the share market at the international level was fluctuating.

“Earlier, there was a fall in the price of oil to $90 per barrel but now it has reached $107 per barrel. Fluctuations in the American economy, devalued US dollar and fluidity in the international share market pushed up the price of gold,” said NEGOSIDA. It added that this week the price of gold per ounce in the international market was $880 while last week it was $846. A change of $ 34 was noticed. After gold opened at Rs 20,575, there was a sudden fall by Rs 85, leaving it at Rs 20,490 on Monday.

A massive spurt in gold price by Rs 430 took it Rs 20,920 on Tuesday, the highest mark this week.

On Wednesday, the price fell by Rs 85 to Rs 20,835, which remained stable till closing day.

Meanwhile, silver opened at Rs 338.5 per 10 gram this Sunday. The price increased by Rs 21.5 on Tuesday, decreased by Rs 12 on Wednesday and again Rs 2 on Thursday leaving silver at Rs 346 per 10 gram. Silver closed at Rs 344.5, six rupees higher than the opening price.