Gold price hits record high at Rs 205,900 per tola

Kathmandu, Sept 2: Gold price has reached all time high in the domestic market today with the increase in the international market.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of one tola of gold has soared to Rs 205,900 per tola (11.66 grammes) compared to Rs 205 thousand 300 per tola on Monday.

Similarly, the same quantity of silver is being traded at Rs 2,485 per tola today, an increment of Rs 15 in the previous day’s price, said the Federation.

Former president of the Federation, Manik Ratna Shakya, said the increase in gold price is due to flux in global politics and economy, rather than the demand of Nepali customers.

The international media reported that the precious yellow metal is currently being traded at USD 3,494 per ounce in the international market. An ounce of gold weighs 31.1 grammes.