Weak rupee, international market push gold price up

Gold in the domestic market closed Rs 385 per 10 gram higher to Rs 24,135 from last week's closing of Rs 23,750.
The price hike in the international market and weak Nepali rupee have pushed the price of precious yellow metal in the domestic market up, said the Nepal Gold and Silver Dealers' Association (NEGOSIDA).
"The bullion in the international market closed $13 higher than last Friday," it added. Similarly, US dollar appreciated vis-à-vis Indian currency with which Nepali rupee is pegged. Nepali rupee was exchanged at Rs 80 per dollar on Friday.
The precious yellow metal was traded at Rs 23,835 per 10 gram on Sunday, whereas it lost Rs 130 per 10 gram on Monday. But remaining of the week, the price rallied to touch Rs 24,265 on Thursday but settled down to Rs 24,135 per 10 gram on Friday, the last day of the trading in the domestic bullion market.
According to the NEGOSIDA, silver also became expensive by Rs 2 per 10 gram to Rs 368 on Friday.

Tips for investors
KATHMANDU: Lately Nepali investors have been lured to gold as a reliable investment. But it is very essential to understand when to buy and when to sell, if an investor wants to make profit. Traders and day-traders, in particular, chase the waves only and so ignore all but the daily picture.
According to the survey, 52 per cent of the best traders who trade make money. Their payment really comes in the sandpapering of their nerves.Let's look at a tried and tested way of making the entry point, then the policy between then and the exit point. Right now a look at gold shows that after two attempts to surmount and hold the $1,000 level the gold price has pulled back to $870 and is trying to hold its position above $930 now. At the moment it just does not want to go below $880. And next?
The gold price itself never goes straight up but can swing as much as 30 per cent, giving even long-term holders the opportunity to move out, then back in. Each investor with one's own investment parameters, own risk profile and investment objective must make exit point decision alone, because one is the only person who knows one's situation the best. Professionals can only re-assess the market fundamentals, combine these with the technical picture and point to the places where the gold price signals a trend change.
Coming into the picture are the investor's objectives. Is one there for the long haul, or is one a trader. If for the long haul, is one 'on margin' and so more vulnerable to volatility? The answer to these questions will help you make money. -- Agencies