Kathmandu, June 21
The price of gold in the Nepali market shot up by Rs 1,000 per tola (1 tola = 11.66 grams) on Friday as it reached an all-time high.
One tola of gold is currently priced at Rs 65,000. Federation of Nepal Gold And Silver Dealers says that with the rise in price people have stopped buying gold.
The federation said that the hike in customs duty was one of the reasons for the increment. It further stated that the clash between the US and Iran over uranium enrichment along with US-China trade war had further pushed up prices.
Dharma Sundar Bajracharya, president of the Federation of Nepal Gold and Silver Dealers Association, said there was a possibility that the price would further rise if the US-China trade war continued.
One tola of gold was priced at Rs 64,000 on Thursday and Rs 63,000 on Wednesday.
