KATHMANDU: At the time when the festive season is approaching, the gold price has continued to rally in the domestic market, slowing down its sell.
The price of the precious yellow metal increased by Rs 200 per tola (11.664 grams) to be traded at Rs 68,000, setting a new record of an all-time high price on Tuesday.
According to the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA), the price of the precious yellow metal had reached Rs 67,800 on Monday.
FENEGOSIDA said that the increase in the price of the yellow metal attributes to its price hike in the international market as Federal Reserve Bank lowered interest rates for the first time in more than a decade.
The gold purchase has slowed down drastically following the price hike. The falling business has worried jewelers ahead of the festive season.