Tuesday, July 2, 2013

Gold dearer by Rs 650 per tola


Gold price jumped by Rs 650 per tola (11.664 grams) to Rs 49,150 per tola in the domestic market on Tuesday. The precious yellow metal was traded at Rs 48,500 per tola on Monday. Gold price went up in the domestic market following price hike in the international market, according to the Federation of Nepal Gold and Silver Dealers´ Associations. Gold was traded at $1,297 per troy ounce in the international market on Tuesday, up $15 from Monday´s price. Reuters reported that gold price rose as the dollar steadied and equity markets eased ahead of US economic data this week which should give more clues on the country´s monetary policy. Gold price has been steadily increasing in the domestic market after plunging to 23-month low of Rs 48,100 per tola on June 28. Price of silver has, however, remained stable at Rs 815 per tola since June 30.

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