Gold at new high

KATHMANDU: Gold price reached an all-time high of Rs 82,700 per tola in the domestic market on Tuesday.

Up Rs 200 a tola compared to Monday’s price of Rs 82,500 per tola, gold price has set another record. The Federation of Nepal Gold and Silver Dealers’ Association (FeNeGoSiDA) has stated that a negative impact of coronavirus on global economy has boosted the gold price in the domestic market. Moreover, declining price of fuel in the international market and increasing value of US dollar has also appreciated the price of precious yellow metal in the domestic market.

Due to its surging price, gold trade has declined to 15 kg per day on an average during this wedding season, against the normal trade of around 40 kg per day in the previous years.