21 May, Kathmabndu: The gold traders can heave a sigh of relief as the price of gold increased by Rs. 1,600 on Tuesday to reach Rs 50,300 per tola (11.664 gram).
The gold price kept on descending over the week making it the 22 month low of Rs. 48697 on Monday.
On the first day of trading– on Sunday , the domestic market witnessed a fall of Rs 651 per tola in gold price, according to Nepal Gold and Silver Dealers’ Association.
The gold price is fixed in the domestic market on the basis of international market price.
The price started to drop from mid-April. On April 15 and 16, prices dropped by Rs 6,300 per tola — on April 15 it dropped by Rs 3,300 and on April 16 it further plunged by Rs 3,000 — due to prices decreasing in the international market.
Likewise, the price of silver has also incrased by Rs.35 per tola— making it Rs. 864 on Tuesday from Rs. 829 as of Monday’s price.
The price of the precious yellow metal had touched a record high of Rs 62,000 per tola in the domestic market on September 14, 2012.
