Gold price at Rs 96,700 per tola

KATHMANDU: Gold price, which is on rise since past few days, continued to surge on Wednesday as its price in the domestic market increased by Rs 300 per tota to Rs 96,700 per tola.

Increased by Rs 1,100 per tola compared to its price as of Monday, gold was traded at Rs 96,400 on Tuesday.

The yellow metal was traded at $1,942.65 per ounce in international market on Wednesday though it was traded at $1,923.6 per ounce on Monday and 1,938.56 per ounce on Tuesday.

Gold price had started falling follwoing COVID-19 vaccine inventions and the US election. Market analysts attribute the weakening value of US dollar and rising unemployment rate in US to surging gold price in recent days.

As per the Nepal Rastra Bank  (NRB), US dollar which had surged to Rs 120 in June last year has dropped to Rs 116 on Wednesday.

Similarly, silver price has increased by Rs 5 per tola compared to its Tuesday’s price to Rs 1,340 per tola on Wednesday. Silver was traded at $26.38 per ounce in the international market on Friday, $ 27.07 per ounce on Monday, $27.23 per ounce on Tuesday to $27.41 per ounce on Wednesday.