Awaken Nepal

Gold price lowers, traded at Rs. 49,099

gold

Gold price droped furtherby 651 per tola(11.664 gram)  making the lowest price till now. Gold traded at Rs. 49,099 today, Sunday, 19th May, 2013.

On Friday, the precious yellow metal was traded at Rs 49,750.

Last week on Sunday, the gold was being traded at 51,900, and it kept on descending over the week.

This April the gold price took a nose dive of Rs. 6,300 per tola in a span of two days—April15 dropped by Rs. 3,300, and April 16 followed by a plunge of Rs. 3,000). Since then, the price has been on the slower side–rise and fall.

During the marriage season, when the people buy more gold for ornaments as a customs, its demand peaks up to 45 kg per day, whereas in normal day, there is a demand of around 30 kg to 35 kg per day, according to Nepal Gold and Silver Dealers Federation.

The gold had reached all- time high in the domestic market on September 14, 2012, when it was traded at around Rs. 62,000 per tola.