According to Nepal Gold and Silver Dealers Association (Negosida), the price of gold decreased by Rs 200 per tola on Wednesday compared to the day before. [break]The dealers attributed the drop to nominal change in the price of the yellow metal in the international market and weakening of US dollar vis-a-vis Nepali currency.
When dollar weakens the price of gold goes down because it lowers the cost of import.
"Gold on Wednesday was traded at Rs 59,300," said Tej Ratna Shakya, president of Negosida, adding that the price of yellow metal was Rs 59,500 on Tuesday.
However, the price of gold has gone up nominally in the international market on Wednesday evening and touched $1,714 per troy ounce. This could have its impact on Thursday´s pricing.
Negosida officials also informed Republica that the price of the silver has also continued to decline in the market over the last few days. Pricing made public by Negosida show, silver was traded at Rs 1,175 per tola on Wednesday, down from Tuesday´s rate of Rs 1,180 per tola.
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