Business

Gold price hits fresh record, rises by Rs 2,400 per tola

By THT Online

Photo: Sandeep Sen

KATHMANDU, JANUARY 25 Gold price in the Nepali market surged by Rs 2,400 per tola on Sunday, reaching a new historic high of Rs 303,800 per tola, according to the Federation of Nepal Gold and Silver Dealers' Association. Fine gold has been on a sharp upward trajectory throughout the Nepali month of Magh, opening the month at a high level and continuing to set new records almost daily, making the precious metal increasingly expensive for Nepali consumers. On Friday, gold was traded at Rs 301,400 per tola, the federation said. Silver price have also followed a similar trend, hitting a new record of Rs 6,480 per tola on Sunday-an increase of Rs 290 per tola in a single day. Silver had been traded at Rs 6,190 per tola on Friday. The continued rise in gold and silver prices in the domestic market reflects fluctuations and an upward trend in the international bullion market.