Gold fluctuates, transactions don’t

The gold domestic market this week opened at Rs 23,790 per 10 gram. With a fall of Rs 85 gold on Monday got traded for Rs 23,705. On Tuesday, gold rose by Rs 45 to Rs 23,750 per 10 gram. On Wednesday, gold price again fell to Rs 23,575 — a decline of Rs 175, It, however gained Rs 45 on Thursday with gold per 10 gram trading for Rs 23,620. The market closed at Rs 23,665 on Friday, a Rs 45 increase compared to Thursday, said Nepal Gold and Silver Dealers’ Association (NEGOSIDA).
According to NEGOSIDA president Tej Ratna Shakya, though the gold price is fluctuating people’s buying capacity is the same. Due to the Nepali tradition and people’s interest in gold, gold price hikes rarely affect the number of transactions, except in the off season. “In the domestic market, we have recorded normal transaction of 10 kg per,” Shakya said.
The international market price of gold last Friday was $939 per ounce, which after a number of fluctuations went down to $933 per ounce this Friday, said NEGOSIDA.
Meanwhile, silver per 10 gram was traded for Rs 375.50 on Sunday. It saw a slight fall in price to Rs 373 per 10 gram on Monday.
On Tuesday, silver was priced at Rs 371 and on Wednesday dropped to
Rs 367.
With yet another fall of Rs 5, the trading price was Rs 362 on Thursday. Silver closed at Rs 357 per 10 gram on Friday.
Source: THT