Gold price touched historic high of Rs 17,490 per 10 gram, in the domestic market on Friday. Earlier, it had recorded the highest of Rs 17,000 some 20 months ago.
Gold price in the domestic market increased by Rs 515 to Rs 17,490 per 10 gram from last week's closing of Rs 16,975.
The precious yellow metal in the local bullion market opened at Rs 17,105 on Tuesday as the market remained closed on Sunday and Monday due to the murder of a gold trader. The traders also held protest rally against the murder of one of their colleagues.
On Wednesday also, the price of hallmark gold remained stable at Rs 17,105 but on Thursday it shot up by Rs 115 to Rs 17,320. However, the price continued to rise on Friday, the last day of trading, and touched the historic high of Rs 17,490 — a rise by Rs 170 — per 10 gram. "The market closed at Rs 17,490 a new record high," according to Nepal Gold and Silver Dealers' Association's (NEGOSIDA).
"The record price in global crude prices that crossed $100 per barrel for the first time and further weakening of dollar pushed the price of gold up," states the association.
Similarly, in the international market also, it recorded $865 per ounce — a record high in last 28 years. A year back on January 4, the gold price was hovering around $600 but within a year, it shot up to $865 per ounce.
Similarly, silver price also witnessed a rise by Rs 10 this week from last week's closing of Rs 315 per 10 gram. It was traded at Rs 316 on Tuesday and Wednesday. But on Thursday, the silver price increased by Rs 4.50 to Rs 320.50 and on Friday, the last day of the trading it closed at Rs 325.
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