The yellow metal rose by Rs 495 per 10 grams from Rs 30,110 per 10 grams recorded on Tuesday, breaking the previous high of Rs 30,225 per 10 gram recorded on May 17. [break]
“Heightening tension between two Koreas, weakening Nepali rupees against US dollar and effect of financial crisis in Greece led to the hike in gold prices,” Tej Ratna Shakya, president of Nepal Gold and Silver Dealers´ Association.
Gold was selling for $1,205 per troy ounce in the international market on Wednesday.
Shakya said the rising prices of the yellow metal had hampered the sale of gold in this wedding season - the prime time for gold sales. “Daily gold sales hovers around 15 kg per day, which is far lower than the average daily sales of 30 kg during the wedding seasons in the past,” Shakya added.
Price of silver also increased by Rs 8.5 per 10 grams to Rs 471.5 on Wednesday.
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