Gold hits new high of Rs 56,900

KATHMANDU, June 7: 

Gold climbed to all time high of Rs 56,900 per tola (11.664 grams) in the domestic market on Wednesday, gaining Rs 300 per tola overnight. While doing so, the yellow metal broke the previous high of Rs 56,800 per tola recorded on Sunday.

Officials of Nepal Gold and Service Dealers Association (Negosida) said they revised gold prices in line with the prices in international bullion market. 

“We had to adjust prices because the yellow metal is rallying in the international market,” said Tej Ratna Shakya president of Negosida. He also said strengthening of US dollar vis-à-vis Nepali rupee was also making gold expensive in Nepal.

Gold also hit a new high of IRs 30,400 per 10 grams in India on Wednesday.

Source: Republica