Gold price sets new record amid rising Middle East tensions

Published On: August 3, 2024 05:10 PM NPT By: Republica  | @RepublicaNepal


Gold price sets new record amid rising Middle East tensions

KATHMANDU, Aug 3: Gold prices have hit a new record this week, driven by escalating tensions in the Middle East, weaker US economic data and a dovish stance from the Federal Reserve.

In the domestic market, gold prices reached new heights this week. On Sunday, the price was Rs 145,700 per tola. By Friday, the last trading day of the week, gold was priced at Rs 149,900 per tola, marking a record high and an increase of Rs 4,200 per tola from the start of the week.

Silver prices have also risen domestically. On Sunday, silver was priced at Rs 1,740 per tola, and by Friday, the price had climbed to Rs 1,795 per tola.

 

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