Gold hits record high
KATHMANDU, May 29:
Domestic market witnessed gold price scaling to yet another record price due to ongoing sovereign debt concerns of Europe that bolstered both price of precious metals and US dollar in the international market.
The precious yellow metal reached yet another record high this week — on Thursday — Rs 43,157 for a tola (11.664 grams) due to strong dollar. The grim possibility of Greece once again defaulting on its debt and looming similar fates of Potugal, Ireland, Italy and Spain has turned the prospects of European economy doubtful forcing investors clutched to the safe haven investment -gold and silver.
The yellow metal that was priced at Rs 42,100 last Friday opened at Rs 42,500 on Sunday but touched record on Thursday to retreat to Rs 43,100 on Friday.
The sister metal silver also seems to have resumed its rally as its price also started to recover.
The exchange rate for a US dollar in terms of Nepali rupee has strengthened from Rs 71.55 on Sunday to Rs 72.15 on Friday.
Source: THT
Domestic market witnessed gold price scaling to yet another record price due to ongoing sovereign debt concerns of Europe that bolstered both price of precious metals and US dollar in the international market.
The precious yellow metal reached yet another record high this week — on Thursday — Rs 43,157 for a tola (11.664 grams) due to strong dollar. The grim possibility of Greece once again defaulting on its debt and looming similar fates of Potugal, Ireland, Italy and Spain has turned the prospects of European economy doubtful forcing investors clutched to the safe haven investment -gold and silver.
The yellow metal that was priced at Rs 42,100 last Friday opened at Rs 42,500 on Sunday but touched record on Thursday to retreat to Rs 43,100 on Friday.
The sister metal silver also seems to have resumed its rally as its price also started to recover.
The exchange rate for a US dollar in terms of Nepali rupee has strengthened from Rs 71.55 on Sunday to Rs 72.15 on Friday.
Source: THT
