
The gold price that has been fluctuating in the international market set a new record in the domestic market this week.
The price of the yellow metal reached Rs. 34,635 per 10 grams (Rs 40,400 per tola) on Tuesday in the domestic market breaching the record set on Sunday.
Its price had reached Rs.34, 510 per 10 grams on Sunday.
Tej Ratna Shakya, president of the Nepal Gold and Silver Dealers’ Association (NEGOSIDA), said that due the weakening US dollar, the price of gold has been fluctuating in the international market which had directly affected the domestic bullion market.
However, the price of gold had slightly decreased in the domestic market after it set a record on Tuesday.
The price of gold in the international market stood at $1,390 per ounce on Friday while it reached at $ 1,414 per ounce on Sunday.
In the domestic market, the gold traded Rs. 34,210 per 10 grams on Wednesday, Rs. 34,125 on Thursday and Rs.34, 295 on Friday.
He said that the price of gold reached the highest in the domestic market due to the devaluation of the US dollar as compared to the Euro and the rise in the price of crude oil in the international market.
The demand of gold has been decreasing in the domestic market due to its increase price; he said adding that the demand of gold stood at around 25 kgs daily.
He said that the demand of gold would decrease from next month.
Not only the gold price but also the price of silver has also been fluctuating in the domestic market, he said.
He said that the scarcity of silver has been seen in the domestic market but there was no scarcity of gold due to its illegal import from India.
Shakya asked the government to open the gold import to control the illegal import.
The demand for gold fell significantly in the domestic bullion market during the Dashain festival this year as compared to the same period last year. The demand for the precious yellow metal in the domestic market dropped by 25 per cent du ...
With the fluctuation of the price of gold in the international market, its price recorded the highest ever in the domestic market this week. The precious metal was sold for Rs. 56, 900 per tola on Wednesday. However, the price of gold decr ...
The price of the gold, which has been continuously sky-rocketing since last couple of weeks, set new record of Rs. 59,900 per tola (11.644 gm) on Sunday in the domestic market. The price of the precious yellow metal had settled at Rs. 59,0 ...
Despite a fall in the prices of gold in the international market, customers in Nepal have failed to entertain it owing to the quantitative restriction imposed by the government on the import of gold. Though the price of the precious metal ...
Triggered by a huge downfall in the international market, the domestice market witnessed the biggest single day drop in price of gold on Monday. The precious yellow metal was traded at Rs 45,010 per 10 gm (Rs 52,500 per tola), down from Rs ...
The government on Tuesday hiked the import duty on gold and silver in line with the rise in the duty in India. A Cabinet meeting decided to raise the duty on the yellow metal to Rs 1,500 from Rs 1,000 per 10 gm, while the duty on silver im ...
Gold is losing its lustre slowly in the domestic market among the common people as it has crossed their purchasing capacity. The precious yellow metal hit a record price of Rs 50,499.28 (11.664 gram) for a tola today increasing by Rs 1,405 ...
The United Arab Emirates (UAE) has emerged as the largest supplier of gold to Nepal as of the last fiscal year 2010-11. According to the Trade and Export Promotion Centre (TEPC), 87.6 percent of Nepal’s gold imports in fiscal 2010-11 came ...
Nepal’s largest imports in the last fiscal year were petroleum products, iron and steel products and machinery parts. These three products accounted for 19.56 percent, 10.07 percent and 5.29 percent respectively of the total imports in the la ...
Nepali customers will have to wait for six months Maruti Suzuki, India’s largest four-wheeler seller, unveiled the much awaited entry level car Maruti Alto 800 in the Indian market on Tuesday. The Alto has been the largest selling car i ...
Shivam Cement Industry, one of the largest cement plants to be set up in the country, is set to start production from December. The Sarada Group, Lucky Group, Maru Group and HR Goyal have invested Rs 4 billion in this venture. The factory ...
Petroleum products accounted for 20 percent of the country’s total import bill in fiscal 2010-11. The value of oil imports jumped 43.92 percent in the last fiscal year on rising prices in the international market and swelling consumption at h ...
The freefall of Nepali rupee does not seem to stop, with the exchange rate for the domestic currency against the US dollar touching new lows almost every day. First, the rupee plunged to an all time low of Rs 84.20 per dollar on November 2 ...
Nepali currency has been brought to another historic low as the Indian rupee takes a beating against the US dollar. Today, the exchange rate of Nepali currency against the US dollar crossed Rs 87.5 for a dollar on average as per the exchan ...
With the increment in petroleum prices, private airline operators are also increasing the fuel surcharge making air travel costlier from March 1. Though, the Airline Operators Association of Nepal will take the formal decision tomorrow, th ...