Here's how tensions in the US makes the gold tick in Nepal

The price of gold has rebounded since the last few days in the national gold market. The price of gold gained Rs. 800 today on the first day of the week compared to last week's close. According to the official website of the Federation of Nepal Gold and Silver Dealers' Association, fine gold is being traded at Rs. 95,600 per tola today while tejabi gold is being traded at Rs. 95,100 per tola.

Similarly, the price of gold had also gained Rs. 900 per tola last Friday compared to the price last Thursday. Thus, gold has risen Rs. 1,700 in the last two trading days alone.

This movement is in sync with the international market. Gold and the US dollar have a reverse correlation with each other. When US President Donald Trump said that the US was not issuing any more stimulus bills, the hype in gold had declined. This is because the hype in gold was fueled by these stimulus bills which had weakened the dollar. However, just a few days later, he seemed to back away from that statement as he said he was willing to negotiate on certain components of the fiscal stimulus bill. This probably got the investors running for more gold.

The United States of America is the world's largest economy. Basically, the US is a huge economic machine with an equally strong military prowess, which is why the US dollar is a standard currency. The uncertainty of the Presidential election in the US has also persuaded many to buy gold, which is considered a safe haven.