Gold continued its bull run in the domestic market on Tuesday as the yellow metal became dearer by Rs 500 per tola (11.664 grams) as compared to the price recorded on Sunday. Gold was traded at Rs 51,700 per tola on the day.
Dealers say the price of gold in the domestic market is higher as compared to international market due to price volatility in the international market.
Gold trading began at $1,680 per troy ounce in the international market on Tuesday. The price was hovering over $1,660 per troy ounce in the afternoon.
Tej Ratna Shakya, president of Nepal Gold and Silver Dealers´ Association (Negosida), said gold price is fluctuating in the international market mainly due to the ineffective implementation of $1.5 trillion relief package introduced by the US government.
“Gold and dollar are fluctuating due to ineffective implementation of US relief package. Price volatility in international market is creating a big trouble for gold dealers,” Shakya added.-from/myrepublica.com
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