KATHMANDU, Sept 10: Gold continued its bull run in the domestic market on Monday, as the price of yellow metal increased by Rs 58 per tola (11.664 grams) to hit a new record of Rs 61,177 per tola.
Officials of Nepal Gold and Silver Dealers Association (Negosida) said they revised price of gold upward after the yellow metal was traded at a higher price in international bullion market.
Price of gold hovered at US$ 1,739 per troy ounce in the international market on Monday, gaining $4 per troy ounce compared to Saturday.
“Continuous rise in gold price is affecting sales of gold jewelries in this peak season,” said Pramod Ratna Shakya, proprietor of Tejmin Jewelers at New Road, adding that gold price has increased by Rs 12,000 over the past year.
Price of silver also increased by Rs 10 per tola on the day. Silver was traded at Rs 1,200 per tola on Monday.