Gold price surges Rs 1,500 per tola to Rs 92,500 per tola

Published On: November 8, 2021 06:45 PM NPT By: Republica | @RepublicaNepal

KATHMANDU, Nov 8: Gold has become dearer by Rs 1,500 per tola (11.66 grams) in the domestic market on Monday, the first day after the end of the public holidays of Tihar.

According to the Federation of Nepal Gold and Silver Dealers Association (Fenegosida), the price of 24 carat gold has reached Rs 92,500 per tola while that of 22 carat is Rs 92,000 per tola. Similarly, the price of silver has also increased by Rs 25 a tola and stands at Rs 1,250 per tola.

Meanwhile, bullion traders have been elated by an improved transaction of the precious metals in Tihar this year. Manik Ratna Shakya, President of FENEGOSIDA, said an increased mobility of people after extensive vaccinations against the COVID-19 pandemic has sped up the bullion trading during the festival.

According to him, demand for gold coins, idols of Ganesh and Laxmi and new designs of jewellery surged during the period.