Officials of Nepal Gold and Silver Dealers Association (Negosida) attributed the rise in price to gold rally in the international market. Rajendra Tuladhar, office secretary of Negosida, said price of gold in the international market on the day increased by US$ 4 per troy ounce and was traded at $1,667 per troy ounce. [break]
Gold price had gone down by Rs 204 per tola on Tuesday compared to a day ago, ending its five-day bull run.
Traders, who were anticipating rise in demand with the advent of festive season, are worried by gold´s bull run over the past few days. They fear continuous rise in price may turn away festive shoppers.
Uttam Shakya, proprietor of Surya Bahadur and Sons Jewelry Shop at Wotu, said price volatility might affect their sales during festive season. “Demand had started to increase, but the five-day rally might turn shoppers away,” added Shakya.
Price of silver, meanwhile, remained unchanged and was traded at Rs 1,120 per tola on the day.
Related story
Gold price rises by Rs 500 per tola, reaches all-time high of R...
_20240311121839.jpg)
