Gold hits fresh record

KATHMANDU: The price of gold hit yet another record to reach an all-time high of Rs 102,500 per tola in the domestic market on Thursday.

As per the price list published by the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal’s price increased by Rs 1,100 a tola from the previous day.

On Wednesday, gold price was recorded at Rs 101,400 per tola. The price of the bullion is setting new records every day and there is anticipation that the price of precious metal will surge further in coming days.

As per Reuters, gold price is continuing to soar in recent days after the Democrats and the White House appeared closer to agreement on new stimulus to help the coronavirus-hit economy while stocks on Wall Street traded mixed as investors awaited more aid from Washington.

Meanwhile, silver was priced at Rs 1,345 a tola on Thursday showing an increase of Rs 50 per tola compared to its price on Wednesday.

A version of this article appears in e-paper on August 7, 2020, of The Himalayan Times.