Kathmandu, February 23:

Gold price touched historic high of Rs 19,635 per 10 gram, in the domestic market on Friday.

The price increased by Rs 815 to Rs 19,635 per 10 gram from the opening price of Rs 18,820 on Sunday. The precious yellow metal in the local bullion market opened at Rs 18,820 on Sunday and continuously went on rising throughout the whole week.

On Monday it touched Rs 18,860, on Tuesday, it shot up to Rs 18,905, on Wednesday to Rs 19,290, on Thursday to Rs 19,550 and it closed at a historic high of Rs 19,635 on Friday, the last day of the trading.

“The market closed at Rs 19,635 per 10 gram a new record high,” according to Nepal Gold and Silver Dealers’ Association’s (NEGOSIDA). “The price rise in global crude prices that crossed $100 per barrel, fear of recession in the US, weak global stock market and further weakening of dollar pushed the price of gold up,” states the association.

Similarly, in the international market also, it recorded a historic high of $946 per ounce. A year back in January, the gold price was hovering around $600 but in 14 months, it shot up to $946 per ounce, a rise of $346.

Similarly, silver price also witnessed a rise by Rs 15 this week from Sunday’s opening price of Rs 349 per 10 gram. The price remained stable for the first three days of the week. On Wednesday, it shot up to Rs 353 and on Thursday, it increased by Rs 8.0 to Rs 361 and on Friday, the last day of the trading, it closed at Rs 364 per ounce.