Gold was traded at Rs 65,500 per tola (11.664 grams) – the highest in the domestic market – today . It was priced at Rs 65,000 a day ago.
The precious yellow metal had made the record of Rs 65,500 per tola on June 25 this year. According to past president of the Federation of Nepal Gold and Silver Dealers' Association (Fenegosida) Tej Ratna Shakya attributed the fluctuation in international market for the price hike in the domestic market.
"The low US currency is one of the reasons for the increase in gold price," he said adding that the price hike in the domestic market is directly related to the US-China trade war. “The gold price in the international market increased by $20 today and $15 yesterday.”
With the increasing price, the demand of gold in the local market has also decreased. The daily demand of gold was hardly 10 kg at the moment, and if the price were under Rs 60,000, the fall in demand would not be this sharp, he said, adding that the daily demand of gold in the Nepali market stands at 35 kg during normal times.
Prior to today, gold was traded for a minimum of Rs 64,300 per tola and a maximum of Rs 65,000 per tola this month.
The precious yellow metal had made the record of Rs 65,500 per tola on June 25 this year. According to past president of the Federation of Nepal Gold and Silver Dealers' Association (Fenegosida) Tej Ratna Shakya attributed the fluctuation in international market for the price hike in the domestic market.
"The low US currency is one of the reasons for the increase in gold price," he said adding that the price hike in the domestic market is directly related to the US-China trade war. “The gold price in the international market increased by $20 today and $15 yesterday.”
With the increasing price, the demand of gold in the local market has also decreased. The daily demand of gold was hardly 10 kg at the moment, and if the price were under Rs 60,000, the fall in demand would not be this sharp, he said, adding that the daily demand of gold in the Nepali market stands at 35 kg during normal times.
Prior to today, gold was traded for a minimum of Rs 64,300 per tola and a maximum of Rs 65,000 per tola this month.
No comments:
Post a Comment