The gold price set a new record high of Rs. 56,800 per tola (11.644 gm) in the domestic market on Sunday, the first trading day of this week, breaking the previous record of Rs. 56,000 per tola on May 4, 2012.
The precious metal price shot up by a hefty Rs. 1,600 per tola today following the change in its price in the international market to US$ 1,625 per 24K ounce.
Previously, the gold price was affected specially due to the revision of custom duty in the imports of precious metal and devaluation of Indian currency against US dollar.
A cabinet meeting on May 3, 2012 decided to increase the import duty to Rs. 2, 300 from the previous Rs. 1,500 per 10 gm for the precious yellow metal. nepalnews.com