Price haze in bullion market
Kathmandu, March 6:
Though the domestic gold market opened at a lower price rate of Rs 24,950 per 10 gram, it gradually gained Rs 50 till Friday and closed at Rs 25,000 per 10 gram.
According to Nepal Gold and Silver Dealers’ Association (NEGOSIDA), though the relief package in the US by president Barack Obama has brought some relief in the international bullion market the price here has again started to go up.
Gold on Monday was traded for Rs 25,400 while Tuesday gold priced at Rs 24,865 that is a fall of Rs 535 compared to its trading price on Monday.
A further decrease of Rs 85 was observed in the price, with gold dropping to Rs 24,780 per 10 gram on Wednesday.
With another fall in the price, gold got traded for Rs 24,680 on Thursday but with an increase in price gold closed at Rs 25,000 this Friday, said NEGOSIDA.
According to NEGOSIDA, this week price of the yellow metal observed fluctuations due to the decrease in the value of Nepali currency and the US dollar getting stronger.
Last Friday, gold had closed at $939 per ounce while this Friday it closed at $935 per ounce.
Meanwhile, silver opened at Rs 350 per 10 gram this week. A slight increase of Rs 2 took silver to Rs 352 on Monday.
The price of silver on Tuesday was Rs 351.50 and with another decrease of Rs 1.50 silver was traded for Rs 350 per 10 gram on Wednesday and Thursday. This week silver closed at Rs 353 per 10 gram, Rs 3 more than the opening price.