Increasing by Rs 1,000 overnight, gold price has set a new record of Rs 75,500 per tola (11.664 gram) in the domestic market today.
According to the Federation of Nepal Gold and Silver Dealers’ Association (Fenegosida) confirmed that the precious yellow is traded at Rs 75,500 per tola today, from yesterday’s Rs 74,500 per tola.
Gold price has been breaking its own record every day due to tensions amid middle east after Iran’s top military commander was killed in an airstrike. The price went up for the third time this week between December 29 and January 4, the association informed, adding that the gold price was fixed at Rs 73,300 per tola on Sunday and remained constant on Monday. “But on Tuesday, gold price went up by Rs 200 a tola to be traded at Rs 73,500, and remained constant till Thursday,” it said, adding that however, on Friday gold price rose sharply by Rs 1,000 per tola to close the trading week at Rs 74,500 per tola.
The Iran-US conflict led investors to invest in gold – which is considered a safe haven investment –pushing up the price of gold in the international market. The increase of the gold price in the international market subsequently pushes the domestic market price too, apart from the rising US dollar against Nepali rupee that also pushed gold price up in Nepal.
Last June, gold was traded at Rs 59,500 per tola following a jump in prices due to trade tensions between the US and China and also a hike in Nepali import duty by Rs 800 per 10 gm. The customs duty was again raised by Rs1,500 per 10 gm in November.
According to the Federation of Nepal Gold and Silver Dealers’ Association (Fenegosida) confirmed that the precious yellow is traded at Rs 75,500 per tola today, from yesterday’s Rs 74,500 per tola.
Gold price has been breaking its own record every day due to tensions amid middle east after Iran’s top military commander was killed in an airstrike. The price went up for the third time this week between December 29 and January 4, the association informed, adding that the gold price was fixed at Rs 73,300 per tola on Sunday and remained constant on Monday. “But on Tuesday, gold price went up by Rs 200 a tola to be traded at Rs 73,500, and remained constant till Thursday,” it said, adding that however, on Friday gold price rose sharply by Rs 1,000 per tola to close the trading week at Rs 74,500 per tola.
The Iran-US conflict led investors to invest in gold – which is considered a safe haven investment –pushing up the price of gold in the international market. The increase of the gold price in the international market subsequently pushes the domestic market price too, apart from the rising US dollar against Nepali rupee that also pushed gold price up in Nepal.
Last June, gold was traded at Rs 59,500 per tola following a jump in prices due to trade tensions between the US and China and also a hike in Nepali import duty by Rs 800 per 10 gm. The customs duty was again raised by Rs1,500 per 10 gm in November.
No comments:
Post a Comment