The leading bullion importer
Nic bank
has launched ‘one kilo
silver bar’ targeting the
retail investors. “It will
allow the public an option
to buy certified silver as
an investment instead of
keeping it cooped up in the
savings account,” informed
head of financial markets-,
commodities and derivatives
at the bank Saroj Guragain
during a press meeting.
The silver will be priced
based on the international
silver price at 10 o’clock
in the morning Nepal
Standard Time, he said,
adding that the pricing of
silver at international
commodities market of New
York Comex and London
Bullion Market will serve as
the basis for pricing.
“The price in the
international commodity
market keeps fluctuating on
the intra-day trading as
well but we will try to
maintain stability in price
for a day as much as
possible,” pointed out
Guragain.
Though the bank will provide
the certification of the
silver bar being 99.9 per
cent pure, it does not
provide any buy back
guarantee.
Two years ago, the bank had
introduced silver granules
targeting at silver
craftsmen and jewellers. The
99.9 per cent pure silver
granules were available from
the bank in easy to carry
packs of 10 kilos.
Nic bank
homepage
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