Kathmandu, February 6:

The weak Nepali rupee and volatile international market pushed the price of gold to still another record high this week before closing at a low price.

The precious yellow metal was traded at Rs 27,100 per tola (11.664 gram) on Sunday, the first day of trading in the domestic market.

After this record opening, it plummeted to Rs 23,190 per 10 gram on Monday — down by Rs 45 from 23,235 per 10 gram on Sunday. The bearish trend continued on Tuesday with Rs 22,805 per 10 gram and remained constant on Wednesday. However on Thursday, gold gained Rs 85 per 10 gram to jump to Rs 22,890 but closed at Rs 23,150 per 10 gram today on Friday, the last day of trading.

This rollercoaster ride of gold in the domestic market is attributed to the international market that also saw fluctuation in its price. “Gold was at $903 per ounce last Friday and closed at $911 today,” said Nepal Gold and Silver Dealers’ Association (NEGOSIDA) president Tej Ratna Shakya.

“Although it is not as high as last October — when gold was at $1000 per ounce in the international market — due to the weak Nepali rupee, it was traded at Rs 23,235 per 10 gram in the domestic market today,” he added.

Similarly, silver price also witnessed a fluctuation this week. It opened at Rs 321.50 per 10 gram on Sunday but closed at Rs 326 per 10 gram today. Tuesday, Wednesday and Thursday saw silver stay constant at Rs 317.50 per 10 gram.