August 6: The price of gold has increased by Rs 1100 per tola (11 grams approximately) to reach an all time high of Rs 102,500 on Thursday (August 6).
The precious yellow metal was being traded for Rs 101,400 on Wednesday. But according to the Federation of Nepal Gold and Silver Dealers Association, the price increased by Rs 1100 per 11 grams overnight.
Similarly, the price of silver has also increased by Rs 50 per 11 grams. The new price has been fixed at Rs 1345 per 11 grams.
The price of gold has been rising steadily since the last few weeks. The price of gold is also increasing in the international market.
It is believed that the price of gold is rising due to the relief packages announced by various governments worldwide to cope with the coronavirus pandemic and the central banks of those countries lending at exceptionally low rate of interest.
Due to the uncertainty created by the pandemic, there has been an increase in investors who are willing to invest in gold. Therefore, the price of gold has been steading rising, according to gold dealers of Nepal.