Kathmandu, January 24
The price of precious yellow metal hit an all-time high of Rs 106,300 per tola (11.66 grams) in the domestic market today.
As per the price list published by the Federation of Nepal Gold and Silver Dealers' Association (FeNeGoSiDA), the price of precious yellow metal shot up by Rs 1,000 a tola overnight.
The last time gold price had set the record was on March 9, 2022, when it had traded at Rs 105,500 per tola.
President of FeNeGoSiDA Manik Ratna Shakya cited the surge of gold price in the international market and also the recent depreciation of dollars as the reasons for the increase in the price of the precious yellow metal.
"The price of precious metals in the domestic market is determined by their rates in the international markets. The current price of gold is $1,935 per pounce," he added Shakya further said that the sky-rocketing prices have dented jewellery demand in the wedding season.
"Normally, the demand of gold is about 40 kg per day but now the demand is 20 to 25 kg which is quite unsatisfactory during the wedding season," he told The Himalayan Times.
Meanwhile, silver price decreased by Rs 15 a tola today compared to Monday to be traded at Rs 1,365 per tola in the domestic market.
A version of this article appears in the print on January 25, 2023, of The Himalayan Times.
