Kathmandu, August 15
Price of gold continued to soar on Thursday reaching a record Rs 71,500 per tola thanks to the escalation of the trade war between the US and China, dealers say.
Federation of Nepal Gold and Silver Dealers Association informed that the price of gold increased by Rs 1,200 on Thursday compared to a day before. With the rise in prices, the number of people buying gold has dropped significantly. The association says that around 700 kg of the precious metal has been deposited in various banks as no one was willing to buy at the moment.
One of the main reasons for the price rise is the escalation in the trade war between the US and China. Despite multiple rounds of negotiations, the world’s two biggest economies fail to make any headway.
Similarly, the price of silver increased by Rs 20 compared to Wednesday and is priced at Rs 840 per tola.
