KATHMANDU, April 18: The price of gold in the domestic market increased 2,900 per tola (11.6638 grams) amid the ongoing negotiation between USA and Iran to agree on truce over the ongoing tension in the Middle East region.
According to the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA), the market price of gold rose to Rs 299,800 from Rs 296,900 per tola when the market closed the previous week. On Sunday, the price of the precious metal increased by a nominal of Rs 200 per tola.
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On Monday, it went down Rs 400 per tola, which was followed by gains of Rs 3,100 and Rs 2,900 on two consecutive days. On Thursday, the price inched up Rs 100, followed by a drop of Rs 3,000 on the last day of the week.
Along with gold, the price of silver also increased Rs 170 per tola in Nepal’s local market. In the review period, the price inclined to Rs 5,130 from Rs 4,960.
According to the FENEGOSIDA, the prices of precious metals in the review period were influenced by several factors, including the declining price of the US dollar, inflationary pressure with surging price of petroleum products and increasing industrial demand for precious metals.
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