Gold price sets new record high of Rs. 44,150 per tola

The price has reached Rs. 44,150 per tola (11.664 gm) on Monday, in Kathmandu. The price has increased from previous record of Rs. 43,915 per tola previous day.

The price of the precious metal has increased due to the devaluation of US dollar and rise in the price of the crude oil in the international market, according to Nepal Gold and Silver Dealers' Association.

international market new record highs above $1,600 per ounce, sentiment toward the yellow metal has turned substantially more bullish.

selling gold is loss for customer in nepal

In Kathmandu there are many gold business house. They buy gold from authorized bank of Nepal. Few brokers and agents buy from Indian businessmen. And who buys gold they should sell sometimes, is loss for them. Because the gold smith and buyer kept at least 3 percentage from customers. Having this problem many persons saves their gold. It is not good for a business development.