Gold price dipped, albeit marginally, this week.
The precious yellow metal closed at Rs 19,760 per 10 gram — Rs 22,617 per tola (11.446 gram) on Friday, the closing day of the week from Rs 19,805 per 10 gram — Rs 22,663 per tola — on Sunday, a marginal drop of Rs 45 per 10 gram in a week.
According to Nepal Gold and Silver Dealers’ Association (NEGOSIDA), the price of gold saw instability due to instability in the crude price in the global market. “The US dollar has also not been strengthened,” says NEGOSIDA.
The precious yellow metal in the local bullion market opened at Rs 19,805 per 10 gram on Sunday. On Monday, it plunged to Rs 19,635 but bounced back on Tuesday to Rs 19,890 per 10 gram, the highest price for the week. On Wednesday again, it plunged by Rs 170 to Rs 19,720.
However, it surged by Rs 40 to Rs 19,760 on Thursday and it closed at the same price on Friday, the last day of this week’s trading.
In the international market also, the price of gold was instable. But it closed at $878 per ounce from last Friday’s $877.
However, the price of silver witnessed a bullish trend this week, too.
It flared by Rs 7.50 to close at Rs 396 per 10 gram on Friday from the opening price of Rs 388.50 on Sunday.
Source: The Himalayan Times
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Sunday, June 8, 2008
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