KATHMANDU, June 6: The price of gold in the domestic market increased by Rs 18,400 per tola (11.6638 grams) due to the government revising the customs duty on gold import along with persisting geopolitical tension in the Middle East.
According to the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA), the market price of gold jumped to Rs 309,000 from Rs 290,600 per tola when the market closed the previous week. On Sunday, gold price surged Rs 20,500 as an impact of the government doubling the customs rate to Rs 20 percent through the budget announcement in the previous week.
Revised interest rate corridor system introduced
The price of precious metal remained almost stable for the next four days—from Monday through Thursday. The price declined Rs 2,100 on Friday, the last trading day of the week.
The price of silver increased Rs 190, from Rs 5,040 to Rs 5,230 per tola.
