August 7: The price of gold has set another benchmark on Friday with an increase of Rs 1000 per tola (11 grams approximately).
According to the Federation of Nepal Gold and Silver Dealers Association, the precious yellow metal is being traded for Rs 103,500 per 11 grams on Friday (August 7), with an overnight increase of Rs 1000.
The price of silver has also increased by Rs 60 per 11 grams. Silver is being traded for Rs 1405 per tola on Friday. The price of silver is also an all-time high in the Nepali market.
The price of gold has been consistently rising 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.
International investors are said to be heavily investing on gold to secure their investment amid uncertainty created by the pandemic. This has also contributed to the rise in price of gold.