Gold price starts increasing
Kathmandu, May 10:
Gold, this week, again jumped to Rs 19,335 per 10 gram on Friday — Rs 22,552 per tola (11.664 gram) — in the domestic market, a rise by Rs 965 per 10 gram from Sunday’s opening of Rs 18,370.
“The price of the precious yellow metal started picking up this week again as the crude price hit $124 per barrel, a new record high. Though the Fed has announced the rate cut, investment has not yet increased in the US,” states Nepal Gold and silver Association (NEGOSIDA).
The price of gold saw steady rise throughout the week. On Sunday, it opened at Rs 18,370 and surged by Rs 165 on Monday to register Rs 18,500 per 10 gram. On Tuesday, it again climbed to Rs 18,710 per 10 gram — Rs 210 rise. On Wednesday, the price of the precious yellow metal again posted a rise of Rs 325 — in a day — to Rs 19,035 per 10 gram. The price remained constant on Thursday. But it closed at Rs 19,335 per 10 gram — a rise by yet another 300 rupees in two days — on Friday, the last day of trading in the local bullion market.
In the international market, gold closed at Rs $880 per ounce this Friday from last Friday’s $851.
Silver also closed at Rs 380 per 10 gram on Friday, Rs 15.50 rise this week from Rs 364.50 on Sunday.