Gold Price Hits a New Record for the Third Consecutive Day, Reaching NPR 159,700 per Tola

The price of gold has set a new record for the third consecutive day. According to the Federation of Nepal Gold and Silver Dealers, today, Monday, Ashoj 8 (September 24, 2024), the price of hallmark gold increased by NPR 500, reaching NPR 159,700 per tola. Previously, on Sunday, the price of gold had increased by NPR 1,700 per tola, followed by an increase of NPR 400 on Monday, pushing it to a new high.

Price of Hallmark Gold: NPR 159,700 per tola
Increase on the Third Day: NPR 500
Total Increase Over the Last 3 Days: NPR 2,600

Reasons for the Rising Prices:

1. Israel-Palestine Conflict: The recent conflict between Israel and Palestine has created global instability, driving investors towards gold as a safe investment.

2. Russia’s Invasion of Ukraine: This has also impacted gold prices as investors trust gold during times of instability.

3. Federal Reserve's Interest Rate Cut: The U.S. Federal Reserve's decision to cut interest rates by 0.50% has encouraged investors to increase their gold investments, positively affecting the price.

The continuous rise in gold prices highlights the influence of the unstable political environment and economic policies, prompting investors to seek the safety of gold.