Kathmandu, 16 August: The price of gold price increased by Rs 1,200 per tola (11.664 grams) in a single day reaching a new high of Rs 71,500 per tola (11.664 grams) on Thursday.
According to reference rate set by the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal was traded at Rs 71,500 per tola on Thursday. After reaching a new high of Rs 71,000 per tola on Tuesday, the price of gold dropped by 700 per tola to Rs 70,300 on Wednesday. However, the price correction did not last more than a day.
A number of factors including the escalation of trade war between the US and China, the recent decision and indication of the Federal Reserve to cut its interest rates and uncertainty over the global economy have contributed to the surge of yellow metal.
People’s News Monitoring Service