KATHMANDU: The gold price increased by Rs 1,100 in the domestic market on Monday.

The precious yellow metal is being traded at Rs 71,300 per tola today, according to the Federation of Nepal Gold and Silver Dealers’ Association. The gold was traded at Rs 70,200 per tola on Sunday.

The increase in gold price attributes to its price hike in the international market. The prices of gold and crude oil have increased in the global market as Saudi Arabia was forced to cut down production following drone attacks on the world’s largest oil processing facility in the country.

Likewise, the silver price increased by Rs 10 and reached Rs 865 per tola today.