Bullion yo-yos in market

Gold price in the domestic is kept fluctuating all week . This week, gold opened at Rs 23,875 per 10 gram on Sunday whereas the opening price of gold last week was Rs 24,220 per 10 gram. Gold remained at Rs 23,875 on
Monday. On Tuesday, it decreased to Rs 23,835. On Wednesday, gold was traded at the same price but on Thursday it rose by Rs 20 to 23,855 per 10 gram. Gold closed at Rs 23,855 per 10 gram this week, that is a fall of Rs 20 compared to the opening price.
According to Nepal Gold and Silver Dealers’ Association (NEGOSIDA), the price of gold in the international market on Sunday was $955 per ounce while the international market for gold closed at $954 per ounce.
Meanwhile, silver opened at Rs 381 per 10 gram on Sunday. On Monday, it was traded at the same price. It fell by Rs 2 to Rs 379 on Tuesday and remained at the same price till Wednesday. On Thursday, silver priced at Rs 380 and closed at the same price on Friday.
According to internationl analysts, silver is a great investment right now and prices could easily shoot above $20 per ounce by the end of this year. Silver is a precious metal. Therefore, it does great when people get worried about the stock market and inflation.
According to recent 10-months’ comparative data of Federation of Handicraft Association of Nepal (FHAN), silver jewellery contributed to 12 per cent of the total handicraft export. Compared to the same period last month, silver jewellery export rose by seven per cent. Total value of silver jewellery exported, according to the 10-months’ data of the present fiscal year, was Rs 2,99,539,359.75.
Source: THT