Gold price plunges by Rs 3,500 per tola
Gold price has plunged by Rs 3,500 per tola (11.664 gm) in the domestic market following the price decrease in the international market over a week.
The gold rate has dipped to Rs 55,800 per tola on Friday from the Sunday’s Rs 59,300 per tola in the domestic market.
The price of the precious metal had declined due to price fall in the international market, said president of Nepal Gold and Silver Dealers' Association (NEGOSIDA) Tej Ratna Shakya. “The price has dipped to US$ 1310 per ounce in the international market on Friday.”
Precious yellow metal price has decreased almost every day over a week as the price fell by Rs 1,200 per tola to Rs 58,000 per tola on Tuesday. Likewise, the rate further declined to Rs 57,500 per tola on Wednesday and Rs 56,800 per tola on Thursday.
“Appreciation of Indian rupee against the US dollar is one of the reasons for the decreasing price of the gold.” said Shakya.
The bullion price is in downward trend since August 28 after hitting a record high of Rs 63,300 per tola in the domestic market. nepalnews.com