Gold price up to Rs. 58,000 per tola with custom duty hike

The price of gold has increased by 200 per tola (11.664 gm) to Rs. 58,000 per tola following the government decision to raise customs duty on imports.

The government on last Thursday had increased the customs duty on gold to Rs. 3,500 per tola from Rs. 2,682 per tola in order to control smuggling of gold to India.

India has raised the customs duty on gold to 6 percent from 4 percent effective from Monday, last week.

The precious yellow metal was priced at Rs. 57, 800 per tola on Sunday.However, the price of the silver remained same at Rs. 1,110 per tola on Monday as of Sunday. nepalnews.com