Traders opined that due to the lower exchange rate the price in the domestic market has not gone overboard -- or hit a record -in comparison to the international price.
"The exchange rate had affected the domestic bullion market last year but today the rate is at Rs 78 only," said Nepal Gold and Silver Dealers' Association (NEGOSIDA) president Tej Ratna Shakya adding that the exchange rate has helped the domestic market keep the gold price from rising.
According to him, the exchange rate of dollar is Rs 78 today due to which there is not much hike in the gold price as was observed during the last record price on February 22 this year. That day, gold in the do mestic market had touched a historic high of Rs 25,550 per 10 gram - Rs 29,800 per tola (11.66 gram) -- due to weaken ing dollar. Then, the dollar exchange rate was Rs 82, though the international price of gold was only $992 per ounce.
On July 16 last year, gold was traded at $1045 per ounce in the international market and in the domes tic market the price of gold was only Rs 25,450 per tola as the exchange rate was Rs 62 per US dollar. Ac cording to the association, gold today was traded at Rs 25,380 per 10 gram - Rs 29,600 per tola -- while silver was traded for Rs 422 per 10 gram.
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