Nepal Gold and Silver Dealers´ Association (NEGOSIDA), which is authorized to fix price of the yellow metal said that the new price broke the previous record of 61,760 per tola set in September.[break]
Tej Ratna Shakya, president of NEGOSIDA said the rise in the gold price would dent the pockets of those who are planning for wedding during this season.
“We will see lower number of customers during this wedding season if the price continue to go up,” added Shakya.
Similarly, the NEGOSIDA stated that the price of silver reached Rs 1,225 per tola in the market. Silver price went up by Rs 25 per tola compared to last Friday.
Shayka said the gold price went up as the price of gold in the international bullion market surged and value of the US dollar increased by one rupee. "The effect of the international market was reflected in the domestic market as well," he added.
Gold price had reached US$ 1,750 per troy ounce on Saturday, up from around US$ 1,720 in the international market.
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