Gold price reaches Rs 70,000 per tola

Published On: August 8, 2019 06:40 PM NPT By: Nribesh Nepal

KATHMANDU, Aug 8: The price of gold continues setting a new record in the domestic market.

The price of gold has increased by Rs 500 per tola in a day to a record high of Rs 70,000 per tola on Thursday.

According to the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA) the increased in the price has seen low selling of the metal at a time when the festive seasons are approaching.

Similarly, the price of silver has increased by Rs 15 to reach Rs 825 per tola.

As per the FENEGOSIDA, as American Federal Reserve has lowered the interest rate for the first time in years, the price in the international market has increased. As a result, the domestic market has witnessed a sharp rise in the gold price

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