KATHMANDU: At Rs 28,000 per tola, that is Rs 24,005 per 10 gram, the price of gold skyrocketed this week.

“Gold in the domestic market has again started gaining price and by Sunday it might rise higher,” opined Tej Ratna Shakya, president of Nepal Gold and Silver Dealers’ Association (NEGOSIDA). Gold on February 12 had registered the highest price till date, which was Rs 29,800 per tola.

According to NEGOSIDA, the gold market opened at Rs 23,620 per 10 gram, which is Rs 27,550 per tola. An increase of Rs 85 took gold to Rs 23,705 on Monday but it dropped to Rs 23,580 on Tuesday and stayed at the same price on Wednesday. With another increase of Rs 255, gold on Thursday rose to Rs 23,835 per 10 gram and closed at Rs 24,005 per 10 gram on Friday which was an increase of Rs 385 compared to the opening price this week.

Gold in the international market opened at $934 per ounce on Sunday and closed at $942 per ounce on Friday. The increase in the gold price is due to the downfall of the share market and increase in

the crude oil price, stated Shakya. The price of crude oil has crossed $70 per barrel and the value of the US dollar is dropping, and this might be affecting the trading price of gold in the international market, he said.

Meanwhile, silver opened at Rs 375 per 10 gram on Sunday and remained at the same price on Monday. Slight decrease in the price was observed on Tuesday, with silver trading for Rs 372 per 10 gram. The price stayed the same on Wednesday and Thursday and the silver market closed at Rs 375.50 per 10 gram, said NEGOSIDA.