Gold price in the domestic market set a new record on Wednesday, January 28, continuing an upward momentum amid strong demand and geopolitical uncertainty.
According to the Federation of Nepal Gold and Silver Dealers’ Associations, the price of fine (hallmark) gold rose to Rs 318,800 per tola (11.66 grams) on Wednesday, an increase of Rs 9,500 per tola compared to the previous trading day. Meanwhile, silver was priced at Rs 7,300 per tola.
On Tuesday, gold was traded at Rs 309,300 per tola, while silver stood at Rs 6,870 per tola.
The price of gold in the international market was fixed at around USD 5,200 per ounce on Wednesday, while silver was priced at approximately USD 111 per ounce, according to international media reports.
Gold prices in Nepal have been hitting successive records in recent days. The precious yellow metal crossed the Rs 300,000 per tola mark for the first time on January 23 and has continued to rise since then, reflecting sustained strength in the global bullion market.
Gold traders have attributed the continued rise in domestic prices to strong trends in the international market amid geopolitical tensions. The Federation determines local gold and silver prices based on movements in international rates.
you need to login before leave a comment
Write a Comment
Comments
No comments yet.