The price of gold reached an all-time high of Rs 250,900 per tola (11.66 grams) in the domestic market of Nepal on Thursday, October 16, driven by surging international prices.
According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of the precious yellow metal rose by Rs 2, 000 per tola compared to the previous days rate of Rs 248,900.
However, the price of silver has decreased by Rs 85 per tola and is currently being traded at Rs 3,240.
In the international market, gold is being traded at around $4,186.68 per per ounce, continuing a sharp upward trend seen over the past week.
The price of gold has been steadily rising for the past few weeks except for some days when it fell slightly. The recent rally follows a steady rise in international prices after the Dashain festival, with investors turning to gold as a safe-haven asset amid concerns over a potential US government shutdown, according to AFP and other international media reports.
The Federation, which determines the daily market rate of gold and silver in Nepal based on global movements, said the continued increase reflects the international surge, as prices surpassed $4,000 per ounce for the first time last week.
you need to login before leave a comment
Write a Comment
Comments
No comments yet.