Gold price close to hitting Rs. 60,000 mark

The price of the gold has set a new record high of Rs. 59,400 per tola (11.644 gm) on Monday breaking the record of Rs. 59,194 per tola on Sunday in the domestic market.

The price of the precious metal has been continuously making new record each day since last Wednesday. The gold price was Rs. 58,050 per tola on Wednesday, Rs. 58,600 per tola on Thursday and Rs. 58, 900 per tola on Friday.

The price of precious metal has been increasing in the domestic market following the price hike in the international market.

According to Nepal Gold and Silver Dealers’ Association (NGSDA), the devaluation of dollar is the main reason behind price hike as it has attracted investors toward gold.

Similarly, the depreciation of dollar has affected the price of oil in the international market, affecting gold price as well, according to NGSDA. Nepalnews.com