International price pushed the price of gold in the domestic market to touch a new record high of Rs 29,800 per tola (11.664 grams) today. It is looking to Rs 30,000 per tola.
The precious yellow metal was traded at Rs 25,550 per ten grams on Sunday —the first day of transaction -- gaining Rs 345 per ten grams from Friday’s Rs 25,205. Nepal Gold and Silver Dealers Association (NEGOSIDA) said that skyrocketing price of bullion in the international market has pushed up the gold price in local market up.
This weeding season saw an unexpected rise in the price of gold pulling the demand down despite wedding season.
In the international market, gold rose to $990 per ounce and it is still looking up to $1,000 per troy ounce (31.11 gram). Analysts said the precious yellow metal is possibly targeting last March's all-time high of $1,030.80 per troy ounce.
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