Gold price per tola is 197 thousand 900, jewelry price in the market is 227 thousand 500
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The price of gold, known as the yellow metal, has again set a new record in the Nepalese market. The political and commercial ups and downs seen in the international market have created a record in the world market as well as in the Nepali market.
The price of gold per ounce in the international market was 3,485 US dollars when the Nepal Gold and Silver Traders Federation set the price on Tuesday. Based on this, the federation fixed the price of gold in the domestic market at Rs 1 lakh 97 thousand 900 per tola. This price is higher by 6 thousand 900 rupees per tola compared to Monday.
The federation had fixed the price of gold per tola at Rs 1 lakh 91 thousand on Monday. "In the international market, compared to Monday and Tuesday, the price of gold has increased by 114 US dollars per ounce. Gold, which was traded at 3,371 dollars per ounce on Monday, increased to 3,485 rupees on Tuesday," said jeweler Tejaratna Shakya. "This is also the reason why the price of gold in the local market has increased by a lot in one day.
He said that the main reason for the price increase in the international market is the policy of American President Trump. The policy of the United States has increased prices everywhere. The stock market is falling. Crude oil prices have fallen. Due to the conflict between different countries, the interest in gold for safe investment has increased, the price has become expensive, he said.
Apart from this, the reason for the price increase on Tuesday is that there is a difference between US President Trump and the US Central Bank (Federal Reserve Bank). "Trump has adopted a policy of reducing bank interest rates. But the central bank there seems to be in a position not to reduce immediately, saying that the economic situation may deteriorate further," Shakya said. "After it came out that there was a disagreement between Trump and the central bank, the price of gold seems to have increased rapidly. This means that investors are looking for a safe investment. For these various reasons, the price of gold has increased by 13 thousand 600 rupees in the last 8 days.
According to the data of the federation, the price of gold per tola on Baisakh 2 was 184,300 rupees. By Tuesday, per tola has increased by 13 thousand 600 rupees to 197 thousand 900 rupees. This is not the consumer price. Common consumers have to pay even more when buying jewellery.
In Nepal, prices are determined based on the international market and the Indian market. In case of international market, 75 percent and Indian market 25 percent is the norm here to determine the price. 10 percent customs duty is charged on it. When the general public buys gold, the businessmen sell it with titles such as interest, wages, and profit.
Therefore, the general public has to pay an additional 29,685 rupees per tola at an average rate of 15 percent. In other words, the consumer price of one tola jewelry is 2.57 thousand rupees. But businessmen have been saying that gold has not been sold due to the increase in prices.
According to them, the market is deserted even though there are weddings in Baisakh. Businessmen say that common people come to sell rather than buy jewellery.
