Business»
Gold price slips
KATHMANDU, JUL 18 -
The price of gold declined by Rs 215 per 10 grams in the local market on Sunday. The yellow metal was traded at Rs 30,090 that day against last week’s price of Rs. 30,305 per 10 grams.
“The price of the yellow metal has gone down due to low demand in the international market as the European economy has improved,” Tej Ratna Shakya, president of Nepal Gold and Silver Dealers’ Association, told the Post. He said the demand for gold in the local market has also gone down to an average of 15 kg per day as compared to the demand for 20-30 kg per day last week.
The price of silver, however, remained stable at Rs. 480 per 10 grams.
Just two days ago, Nepal Rastra Bank had limited the quota system for interested commercial banks to import gold to
10 kg per day from the earlier 20 kg.
“Though the demand is low compared to previous weeks, the current quota will not be able to suffice the local demand,” said Shakya. He hoped that the government would come up with a solution in this regard after bringing in the monitory policy.
Posted on: 2010-07-19 08:27
Headlines
Advertisements
