Another new record set in gold prices

Today (June 6), the price of gold has set another new record. According to the Nepal Gold and Silver Dealers' Association, the price of hallmark gold has increased by NPR 1,800 per tola, reaching NPR 144,000 per tola. The price of Tejabi gold has been set at NPR 143,300 per tola. Similarly, the price of silver has also increased by NPR 25 per tola, reaching NPR 1,850 per tola.

The rise in the price of gold in the Nepali market is attributed to the increase in customs duty to 20% as announced in the budget for the upcoming fiscal year 2081-82. Previously, the customs duty was 15%. Additionally, the high price of gold in the international market, influenced by factors such as the fall in U.S. Treasury yields, a strengthening U.S. dollar, and increased gold reserves by China, has also impacted the Nepali market.