Gold touches new high of Rs 95,800 per tola

Published On: July 24, 2020 03:33 PM NPT By: Republica  | @RepublicaNepal


Gold touches new high of Rs 95,800 per tola
Republica Files

KATHMANDU, July 24: The bullion market has set a new high record of Rs 95,800 per tola (11.66 grams) on Friday.

According to the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA), gold was traded at Rs 95,800 per tola - up from Rs 94,500. The price has increased by Rs 1,300 per tola in a single day. The bullion market has seen a constant rise in gold price since the market resumed after nearly three months of nationwide lockdown was relaxed by the government.

Similarly, the price of silver, too, has been rising in the domestic market. Silver was traded for Rs 1,150 per tola on Friday, up by Rs 5. Its price stood at Rs 1,145 per tola on Thursday. Gold dealers have predicted that the price of the precious metals will continue to rise until and unless the world’s economy hit by the COVID-19 stabilizes. The Nepali gold market has come a to standstill due to the increase in the price of gold.    

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