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Published On:
May 31, 2024 11:40 AM NPT
By: Republica
Gold price rises by Rs 1,700 per tola to reach all-time high
KATHMANDU, May 31: The price of gold has surged by Rs 1,700 per tola on Friday, reaching an all-time high.
According to the Federation of Nepal Gold and Silver Dealers’ Associations, the trading price of fine gold for Friday has been set at Rs 142,200 per tola. On Thursday, fine gold was sold at Rs 140,500 per tola. Previously, the highest recorded price of gold was Rs 141,800 per tola.
The recent rise in gold prices is attributed to an increase in the customs rate introduced in the latest budget. Although gold prices have decreased in the international market, the hike in customs rates has pushed the domestic prices up.
Similarly, the price of standard gold has been set at Rs 141,500 per tola on Friday, up from Rs 139,800 per tola on Thursday.
In contrast, the price of silver has decreased. On Friday, silver is being traded at Rs 1,875 per tola, down from Rs 1,900 per tola on Thursday.
Gold prices in the international market also increased on Friday, trading at $2,344.20 per ounce. Conversely, the price of silver decreased, trading at $30.92 per ounce. On Thursday, gold was priced at $2,332.72 per ounce, while silver was sold at $31.61 per ounce.
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