Mani Ratna Shakya, senior vice-president of Nepal Gold and Silver Dealers' Association (NEGOSIDA) said that compared to last year they have observed an increase in gold transactions in the local market.
"There was a transaction of around 15 kg per day during Teej and we are expecting that the transaction during Dashain and Tihar will be 1516 kg per day," Shakya said.
According to gold dealers, fearful investors worried about a market correction after recent gains may have been investing in gold. Other investments here are also being viewed as expensive, so people are opting to invest in gold. September is traditionally a seasonal highpoint for gold, said Shakya.
NEGOSIDA said that this week gold surged to cross Rs 29,000 per tola. Gold on Sunday got traded for Rs 25,250 per 10 gram (Rs 29,450 per tola) and silver traded for Rs 400 per 10 gram. Gold prices have moved up Rs 860 in a week. The yellow metal opened at Rs 24,390 per 10 gram on Sunday. On Monday, the price per 10 gram of gold rose to Rs 24,435 but fell by Rs 130 on Tuesday to drop to Rs 24,305. Gold again rose priced to Rs 24,435 per 10 gram on Wednesday. It again rose by Rs 345 and got traded for Rs 24,780 per 10 gram on Thursday and closed at a high price of Rs 25,250 per 10 gram. THT In the international market, gold last Friday closed at $949.65 per ounce and this Friday at $987.80 per ounce.
Meanwhile, silver opened at Rs 386 per 10 gram on Sunday and continued to be traded for the same price till Tuesday. Silver rose by Rs 4 and amounted to Rs 390 per 10 gram on Wednesday. On Thursday, silver made another hike of Rs 4.50 and priced at Rs 394.5 per 10 gram. It closed at Rs 400 10 gram on Friday.
No comments:
Post a Comment