The price of yellow metal had been increasing even since the market opened after Dashain holidays on Sunday. [break]
Gold trading had begun in the international market at $1,668 per troy ounce on the Wednesday. The price, however, increased to $1,685 per troy ounce during afternoon´s trading.
Uttam Shakya, proprietor of Surya Bahadur & Sons Jewelry Shop at Wotu, said the business is slowly gaining momentum.
“Demand for golden jewelries has increased to some extent as people have started placing orders for the upcoming wedding season,” Shakya added. “It seems that customers now have realized that gold will not come below the Rs 50,000 per tola mark.”
Tej Ratna Shakya, president of Nepal Gold and Silver Dealers´ Association (Negosida), however, cautioned that it would be too early to say that market situation is improving.
“But it is true that the demand has slightly increased as Tihar and wedding season are round the corner. Also price is showing some signs of stability,” President Shakya added.
Though silver is shining in international market, its price remained stable at Rs 1,120 per tola in the domestic market.
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