Nepal | August 05, 2020

Gold price at new record high of Rs 97,500 per tola

Himalayan News Service
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KATHMANDU, JULY 27

Gold price has set yet another historic record, rising to Rs 97,500 per tola today. According to the Federation of Nepal Gold and Silver Dealers’ Association (FeNeGoSiDA), gold price increased by Rs 1,200 a tola today compared to the rate of Rs 96,300 a tola on Sunday.

Meanwhile, the price of silver also reached Rs 1,210 a tola today while on Sunday it was priced at Rs 1,155 per tola.

As per FeNeGoSiDA, increasing tensions between the United States and China amid the COVID-19 pandemic has alarmed investors across the world due to which investment in gold has soared which subsequently has led to the surge in gold price.

The federation has expected gold price to touch Rs 100,000 by Dashain while silver price is also likely to reach an all-time high.

Prior to this, silver had set an all-time high record of Rs 1,350 a tola in 2012.

Reuters also reported that gold soared to its highest ever today as heightened US-China tensions hammered the dollar and sped up a flight to safety among investors.

A version of this article appears in e-paper on July 28, 2020, of The Himalayan Times.

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