KATHMANDU, OCTOBER 20
The impact of global inflation has taken its toll on the Nepali market, leading to a significant increase in the price of gold by over Rs 2,000 per tola (equivalent to 11.66 grams) over the past week.
This surge in the price of the precious metal can be attributed to the Israeli-Palestinian conflict and the strengthening of the US dollar's exchange rate.
On Sunday, which marked the first trading day of the week, gold was being sold for Rs 96,880 per tola in the Nepali market, compared to Rs 99,025 per tola on Friday, the last trading day.
It is believed that investors have turned to safe investments like gold in response to the Israeli-Palestinian conflict and the stabilizing US dollar exchange rate, leading to the increase in the price of gold.
The price of crude oil has also fluctuated due to the conflict, and analysts speculate that this may further impact the price of gold in the days ahead.
Similarly, the price of silver has also experienced an increase. On Sunday, the price of silver stood at Rs 1,192 per tola, in contrast to Rs 1,200 per tola on Friday, the previous trading day of the week.
