Gold price touches record high

Kathmandu, November 10:

With greenback losing its beat and crude prices touching a new historic high of $98 a barrel, gold price in the domestic market also touched a record high this week.

The precious yellow metal in the local bullion market this week closed with a new record high per 10 gram at Rs 16,890 from the opening price of Rs 16,570.

The trading of hallmark gold registered a steady growth during the week but it closed at Rs 16,500 on the second day, less from the opening price of Rs 16,570. However, the price went up to Rs 16,550 on the third day, Rs 16,890 on the fourth day and remained constant on the fifth and the sixth day at Rs 16,890 of the week, according to Nepal Gold and Silver Dealers’ Association’s (NEGOSIDA) weekly bullion report.

The gold price rose in the wake of continuous weakening of US dollars and continues rise in the crude price in the international markets, states the NEGOSIDA’s report.

The price of silver also saw continuous rise during this week as it closed at Rs 324 per 10 gram from the opening price of Rs 309. The silver price also registered a record of Rs 328 per 10 gram on Wednesday.