KATHMANDU, Oct 18: The price of gold in the domestic market last week crossed Rs 250,000 per tola (11.6638 grams) for the first time due to the soaring price of precious metal in the international market.
According to the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA), the price increased overall by Rs 23,000 tola in the review period. The price surged throughout the weekdays.
Gold price rises by Rs 500 per tola, reaches all-time high of R...
The price of precious metal inclined Rs 3,000 to trade at Rs 238,000 per tola on Sunday, while it reached Rs 258,000 per tola on Friday. On Tuesday, gold gained a single day largest surge of Rs 8,100 per tola in the domestic market, while it moderated with a rise of Rs 400 on Wednesday trading.
Along with gold, the price of silver also skyrocketed to hit the record high price of Rs 3,350 per tola in Nepali market. Compared to the market value of Rs 3,085 of the previous week, the price of silver inclined Rs 265 per tola.
The FENEGOSIDA attributed the soaring prices of bullion to the tariff measures adopted by the USA, rifts appeared between a number of countries and BRICS nations’ attempt for increasing reserves of gold.
