KATHMANDU (Commodity Online) : Gold traders in Nepal repeated their request with the government for permission to import more gold than the present quota of 10 kg a day.

In a request letter to the government, Nepal Gold and Silver Dealers’ Association (NEGOSIDA) said internal demand is increasing and with the festival season approaching, the demand for gold will increase up to 30 kg a day.

The new Monetary Policy 2010-11 has granted NEGOSIDA the permission to recommend on the import quantity.

Meanwhile, domestic gold market this week closed at Nepal Rs 625 less than the opening price.

Gold on Sunday opened at Nepal Rs 30,160 per 10 gram while closed at Nepal Rs 29,535 per 10 gram on Friday.

“Weak dollar value has effected a fall in the trading price of gold in domestic market. The international gold price has increased to $ 1,168 per ounce. However, dollar has become weak compared to Euro.

The exchange rate of dollar has dropped to Nepal Rs 74.85. Similarly, one euro is equal to $ 1.30,” analysts said.

Gold’s highest trading price for this week was Nepal Rs 30,180 per 10 gram on Monday which started to fall from Tuesday with Nepal Rs 30,000 per 10 gram.

Later, Gold again fell to Nepal Rs 29,580 per 10 gram on Wednesday and remained at the same price on Thursday as well.

Silver this week opened at Nepal Rs 480 per 10 gram while gaining Nepal Rs 2 Silver traded for Nepal Rs 482 per 10 gram on Monday and Tuesday.

Silver trading price fell to Nepal Rs 478 on Wednesday that is a fall of Nepal Rs 4, compared to the trading price on Monday and Tuesday.

Silver traded for the same price and closed at the same on Friday that is Nepal Rs 478 per 10 gram, said NEGOSIDA.

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