KATHMANDU, August 13: The price of gold has set a new record on Wednesday in Nepal's domestic market by rising Rs 1000 per tola overnight to reach Rs 71,000 per tola.
The price of the yellow metal has reached 71,000 per tola (11.333 grams), according to the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA).
On Monday, the gold was traded at a record high price of Rs 70,000 per tola.
Similarly, the price of silver also increased by Rs 10 and has reached Rs 835 per tola today.
As per the organization, with the American Federal Reserve lowering the interest rate for the first time in years, the price of gold in the international market has sharply increased. As a result, the domestic market has witnessed a sharp rise in the gold price.