Gold opens sturdily, sighs shut

Kathmandu, August 1:

This week gold opened on Sunday at Rs 20,700 per 10 gram. It had closed at the same price last Friday.

The precious yellow metal remained constant at the start of the week at Rs 20,700 but gained Rs 200 on Tuesday to Rs 20,900. On Wednesday, it lost Rs 125 to Rs 20,575, further went down to Rs 20,405 on Thursday and closed at the same price on Friday.

“Due to stronger dollar and minor fluctuation in oil prices in the global market this week, the local bullion market witnessed marginal fluctuation,” according to Nepal Gold and Silver Dealers’ Association (NEGOSIDA). In the international market also, the gold price came down to $911 per ounce from last week’s $932.

Similarly, silver opened at Rs 386 per 10 gram on Sunday but dipped to Rs 384 on Monday to further gain on Tuesday. On Tuesday,it gained two rupees per 10 gram to Rs 386.

However, the last three days of the week, Wednesday, Thursday and Friday it remained constant at Rs 384.