January 24: Price of gold has hit an all-time high in the domestic market on Tuesday.
President of the Federation of Nepal Gold and Silver Dealers Association, Manik Ratna Shakya, said the price of hallmark gold climbed to Rs 106,300 per tola (11.66 grams) on Monday. According to Shakya, the price of hallmark gold, which was traded for Rs 105,300 on Monday, increased by Rs 1,000 per tola on Tuesday.
Earlier on March 9, 2022, the price of gold had climbed to a record high price of Rs 105,005 per tola. According to NEGOSIDA, the price of worked gold has been fixed at Rs 105,800 per tola.
Similarly, price of silver has decreased by Rs 15 per tola and is being traded at Rs 1,365. The price of gold has increased due to the war between Russia and Ukraine due to which the central banks of different countries started increasing the stock of gold, shared Shakya.
The NEGOSIDA has been demanding 30-35 kg gold per day but the import is limited to 10 kg a day. Nepal Rastra Bank has capped the daily import of gold at 10 kg. Commercial banks are the only institutions licensed to import gold into the country. (With inputs from RSS)