Rupee gains value, gold price up by Rs 940 per 10 grams this week

KATHMANDU, Jan 17:

The price of gold went up by Rs 940 per 10 grams while rupee gained 23 paisa against the US dollar to close at 99.80 on Friday. Nepal Rastra Bank (NRB), the central regulatory bank, had opened currency trading on Sunday with value of dollar fixed at Rs 100.03.

Though the value of rupee remained unchanged on Monday, it gained 27 paisa against US dollar on Tuesday to settle at 99.76. Rupee continued gaining spree as its further gained 3 paisa on Wednesday to close at 99.73. Rupee value remained unchanged on Thursday as well. The local currency however lost 8 paisa against the greenback on Friday to close week’s trading at 99.80.

Gold price increased by Rs 940 per 10 grams. The Federation of Nepal Gold and Silver Dealers Association -- the umbrella organization of domestic bullion dealers, opened gold trading this week with gold price fixed at Rs 44,755 per 10 grams.

Though gold price remained unchanged on Monday, it increased by Rs 255 per 10 grams on Tuesday to settle at Rs 45,010. However, price of the yellow metal came down by Rs 170 per 10 gram on Wednesday to Rs 44,840. Gold price continued its losing spree on Thursday as its price came down by Rs 85 per 10 grams to settle at Rs 44,755. However on Friday, gold glittered as its price increased by Rs 940 per 10 grams to close the week’s trading at Rs 45,695.

In the similar manner, price of silver increased by Rs 17.5 per 10 grams over the week. On Friday, silver was traded at Rs 617.5 per 10 grams.

Officials of the federation said gold prices increased in domestic market this week in line with gold prices in international market. “Gold price is slowly bouncing back in the international market.” Tej Ratna Shakya, immediate past president of the federation said, adding, “Price increment of gold in the domestic market is the reflection of price trend of gold in the international bullion market.”

Source: Republica