The price of precious yellow metal today set a new record by increasing Rs 1000 per tola overnight to be traded at Rs 76,000 per tola (11.667 gm), according to the Federation of Nepal Gold and Silver Dealers’ Association (Fenegosida).
The gold price was fixed at Rs 75,000 per tola yesterday but it soared by Rs 1000 overnight in the global markets due to escalating tensions between the United States and Iran after Iran's top military officer killed in the US airstrike a few days ago, the association said, adding that the conflict has forced investors to turn to safe havens like gold.
The price of gold has been rising steadily in the domestic market since July. It had climbed to Rs 73,500 per tola on September 4 and December 31 last year.
The rising price of the gold has, however, pulled down demand of gold in the domestic market. According to the association, the daily demand for gold used to be around 50 kg during this season but with the rising price the demand has dropped to more than half.
The gold price was fixed at Rs 75,000 per tola yesterday but it soared by Rs 1000 overnight in the global markets due to escalating tensions between the United States and Iran after Iran's top military officer killed in the US airstrike a few days ago, the association said, adding that the conflict has forced investors to turn to safe havens like gold.
The price of gold has been rising steadily in the domestic market since July. It had climbed to Rs 73,500 per tola on September 4 and December 31 last year.
The rising price of the gold has, however, pulled down demand of gold in the domestic market. According to the association, the daily demand for gold used to be around 50 kg during this season but with the rising price the demand has dropped to more than half.
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