Gold dearer by Rs 2,500 per tola this week

Himal Press 19 Apr 2024
Gold dearer by Rs 2,500 per tola this week

KATHMANDU: Gold prices continued to set new records in the domestic market this week as well. The precious metal became dearer by Rs 2,500 per tola (11.664 grams) this week, according to the Federation of Nepal Gold and Silver Dealers Associations.

Bullion trading opened this week with gold priced at Rs 136,800 per tola on Sunday. Although the price recorded a nominal growth to Rs 137,500 on Monday, it went up by Rs 1,600 per tola and was traded at Rs 139,200 per tola on Tuesday.

The price remained unchanged on Wednesday. Although the price fell by Rs 600 per tola on Thursday, it went up by Rs 700 to Rs 139,300 per tola on Friday.

The price of silver increased by Rs 20 per tola over the week.

The price of gold could increase in the domestic market on Sunday on account of the rising geopolitical tension in the Middle East region. The prices rose on Friday and were poised for a fifth straight weekly gain as investors flocked towards the safe-haven asset as the escalating tensions between Iran and Israel fueled fears of a wider regional conflict, Reuters news agency said.

Since Nepal meets all its gold demand through imports, any changes in price in the international market are directly reflected in the domestic market.

The federation fixes the price of gold in the domestic market by 11 am every day except on Saturday.

Published On: 19 Apr 2024


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