Emerging economies boost gold reserves, contributing to price surge
Ratopati
September 22, 2024
Kathmandu, September 22 —The price of gold has increased by NPR 1,700 in a single day. The Nepal Gold and Silver Dealers' Association has set the price of hallmark gold at NPR 158,800 per tola for today.
On Friday, the price was NPR 157,100 per tola. This is the highest price recorded to date.
Similarly, the price of silver has been set at NPR 1,920 per tola, which is NPR 5 higher than Friday's price.
The rise in gold prices has been attributed to increased demand in the international market following interest rate cuts by the U.S. Federal Reserve.
As countries like India and China, along with other emerging economies, continue to increase their gold reserves, the price of gold has been steadily rising in recent days.
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