Kathmandu, April 4: Price of yellow metal has set a new record in the domestic market today. It has increased by Rs 1,000 per tola (11.66 gram) today and is being traded at Rs 134,000.
According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of hallmark gold was determined at Rs 133,000 per tola on Wednesday.
Similarly, price of worked gold has reached Rs 133,350 per tola today against Rs 132,350 Wednesday.
Likewise, price of silver is determined at Rs 1,650 per tola, an increase of Rs 40 per tola. It was traded at Rs 1,610 on Wednesday.
Gold hits fresh record above $2,300
HONG KONG, April 4, 2024 (AFP) – Gold broke above $2,300 for the first time Thursday as it continued to surge on the back of expectations that US interest rates will come down this year and high geopolitical tensions.
The precious metal has chalked up multiple records over recent weeks as the US Federal Reserve indicates it is about to begin easing monetary policy — which makes it more attractive to investors.
Its popularity as a safe haven in times of turmoil has also provided plenty of support, with traders fretting over the Middle East crisis and the ongoing war in Ukraine.
On Thursday, bullion touched $2,304.96 per ounce, according to Bloomberg News, after Fed boss Jerome Powell said it would likely be appropriate to cut borrowing costs “at some point this year”.
Eyes are now on the release of US jobs figures due at the end of the week, with a weak reading likely to give the Fed room to cut rates sooner rather than later. #nepal #gold
