Gold prices reach record high after gaining Rs.1000 per tola on a single day; silver traded at Rs.900 per tola

Gold prices make headlines once again as the value of gold hit all time high on January 3, 2020 i.e. today. The price of gold which remained constant for the past three days increased by Rs.1000/tola on Friday. As of today, fine gold was traded at Rs.74500/tola while tejabi gold was traded at Rs.74200/tola, as per the Nepal Gold and Silver Business Federation.

The traders who were already complaining about fall in demand for precious metal due to increase in the price when fine gold hit Rs.73500/tola, will be facing more difficulty now. Due to increase of gold prices in the international markets, ripple effects of the same have impacted the Nepalese market as well. As of Friday, gold was traded at $1540/ounce on the international markets.

Similar effects can be seen in silver as well. The value of silver increased by Rs.10/tola and stood at Rs.900/tola today. Silver was traded at Rs.890/tola on Thursday.