Gold price at record high of Rs 130,000 per tola

KATHMANDU: Gold price reached a record high of Rs 130,000 per tola (11.664 grams) in the domestic market on Friday.

According to the Federation of Nepal Gold and Silver Dealers Associations, the price of the yellow metal increased by Rs 2,100 per tola overnight. Gold was traded at Rs 127,900 on Thursday.

The federation has attributed the rise in the price of gold in the domestic market to the price rise in the international market. Since Nepal meets all its gold demand through imports, any change in price in the international market is reflected in the domestic market.

According to Reuters, spot gold was traded at 2,189.89 per troy ounce on Wednesday, while gold futures settled 0.6% higher at $2,212.7 per troy ounce.

Gold price has increased by nearly $150 per troy ounce in the international market since the beginning of March.