According to Mani Ratna Shakya, president of the Federation of Nepal Gold and Silver Dealers´ Associations, gold price increased due to price surge in the international bullion market as well as the deprecation of Nepali rupee vis-a-vis US dollar. "Gold climbed to US$ 1,398.65 per troy ounce in the international market on Tuesday, compared to Monday´s price of $1,395.80 per troy ounce," Shakya added.
Last week gold price hovered around $1,365 per troy ounce in the international market.
Shakya expects gold price to rise further in the coming days as the local currency is showing no sign of strengthening against US dollar.
Similarly, the price of silver went up by Rs 12.5 per 10 grams to Rs 900 per 10 grams on Tuesday.
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