Gold price continues to decrease

Kathmandu, June 14:

Gold price continued to dip this week too.

The precious yellow metal closed at Rs 19, 675 per 10 gram on Friday, the closing day of

the week from Rs 20,200 on Sunday — a drop of Rs 525 per 10 gram in a week.

According to Nepal Gold and Silver Dealers’ Association (NEGOSIDA), the price of gold saw a continuous fall due to instability in the crude price in the global market. “The US dollar has also showed some improvement,” says NEGOSIDA.

The precious yellow metal in the local bullion market opened at Rs 20,200 per 10 gram on Sunday. On Monday, it remained constant but again dipped by Rs 140 on Tuesday to Rs 20,060 per 10 gram. On Wednesday it continued to plunge by Rs 360 to Rs 19,700. But it rebounced by Rs 40 on Thursday to Rs 19,740.

And it closed at Rs 19,675, Rs 65 less per 10 gram on Friday, the last day of this week’s trading.

In the international market also, gold touched $902 per ounce in the beginning

of this week. But it closed at $772 per ounce.

However, unlike last week, silver price witnessed a steady fall this week. It opened at Rs 401 per 10 gram on Sunday and continuously fall to R 395 on Tuesday, Rs 388.50 on Wednesday and closed at Rs 386 on Friday.