Gold Price Soars to Record High of Rs 205,300 Per Tola

The price of gold has set a new record in the domestic market of Nepal on Monday, September 1, the state-run national news agency RSS reported.   

According to RSS, the Federation of Nepal Gold and Silver Dealers' Association has fixed the price of the precious yellow metal at Rs 205,300 per tola (11.66 grams). This is a record high price in the domestic market for two successive days.

The price of gold increased by Rs 1,700 per tola compared to Sunday, when it was traded at Rs 203,600 per tola – also a new record of the day with a rise of Rs 3,000 per tola.

Similarly, the federation has fixed the price of silver at Rs 2,470 per tola on Monday. It was traded at Rs 2,425 per tola on Sunday.    

The federation fixes the prices of gold and silver in Nepal based on the prices in the international market. At present, the price of gold is 3,480 US dollar per ounce in the international market.