Gold price goes up by Rs 50,000 in six years

KATHMANDU, March 10: The price of the yellow metal is skyrocketing in the market these days.

The gold was traded at Rs 105,500 per tola on Wednesday which was the highest in the history of Nepali market.

Prior to this, the highest price of gold ever recorded in Nepali market was Rs 103,500 per tola which later had come down to Rs 88,000 per tola.

According to the Federation of Nepal Gold and Silver Dealers' Association, the price of gold was Rs 55,800 per tola in 2073 B.S which in recent days surpassed Rs 100,000.

Similarly, the price was Rs 58,000 per tola in 2074, 63,300 in 2075 and 82,700 in 2076.

Similarly, the price surged to Rs 90,900 per tola in 2077.

Economists attribute the rise of gold price to the Russia-Ukraine war as Russia is the third largest gold producer and fifth largest in the context of gold storage.