Nepal:Silver price surges to Rs. 1085 per tola

The price of the silver in the domestic market hit a record high of Rs. 1,085 per tola (11.664 gm) on Wednesday.

According to the Nepal Gold and Silver Dealers’ Association (NGSDA), due to the political disorder in the Middle East, earthquake and tsunami in Japan have contributed to weaken the dollar and the increase in the price of crude oil has also affected prices in the bullion market.

The silver price recorded Rs 930 per 10 gm on Wednesday, breaking the previous record of Rs. 913 per 10 gm on Tuesday.

Last week, the highest price of the silver stood at Rs. 893.50 per 10 gm on Friday which increased to Rs. 896 per 10 gm per 10 gm on Sunday.

Similarly, the price of gold has also been increasing in the domestic bullion market. The yellow metal which was traded at Rs. 34,425 per 10 gm on Tuesday increased to Rs. 34,635 per 10 gm on Wednesday.

(Source: http://www.nepalnews.com/archive/2011/apr/apr07/news08.php)