Gold price reaches 63,300 per tola
The price of gold has hit new record of Rs 63, 300 per tola on Wednesday, posting an overnight price rise of Rs 3,400 per tola.
The surge in gold price has hit consumers planning to purchase gold amid nearing festive season hard.
Gold dealers have attributed the hike in the bullion price to the depreciation of the Nepali rupees against the US dollar.
Despite the rise, there still lie supply crunch in the market.
The local market demands over 35 kg gold every day. However, the government provision allows supply of only 15 kg a day from commercial banks.
The surge in gold price has hit consumers planning to purchase gold amid nearing festive season hard.
Gold dealers have attributed the hike in the bullion price to the depreciation of the Nepali rupees against the US dollar.
Despite the rise, there still lie supply crunch in the market.
The local market demands over 35 kg gold every day. However, the government provision allows supply of only 15 kg a day from commercial banks.
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