January 5, Kathmandu
Rising tensions in West Asia following the assassination of an influential Iranian general the United States has increased the price of gold around the world as well as Nepal.
The price of gold reached the highest-ever mark in Nepal on Sunday following fears of a war between the US and Iran that could destablise the whole oil-rich region. According to the Nepal gold silver association, the price of hallmark gold has climbed to Rs 75,500 per tola. The same amount of gold could be bought for Rs 74,500 until last Friday.
“Investors rush to buy gold during a period of war to divest from cash and shares and the demand for gold picks up due to that,” says the association’s general secretary Dharma Sundar Bajracharya.
