The price of hallmark gold has reached Rs 103 thousand 100 per tola (11.66 grams) in the domestic market today. It was Rs 102 thousand 900 the previous day.
The Federation of Nepal Gold and Silver Dealers’ Associations has fixed the price of worked gold at Rs 102 thousand 600 per tola. It was Rs 102 thousand 400 on Wednesday.
The Federation determines the daily price of gold and silver based on the transaction value of the precious metals in the international market.
Why Gold Price is Increasing Day by Day?
There are several elements that can influence the price of gold. Among the most notable are:
- Economic conditions: Because gold is generally regarded as a safe haven asset, the price of gold may rise during periods of economic uncertainty or instability.
- Inflation: Because gold tends to hold its value over time, it is seen as a hedge against inflation. When the purchasing power of money falls owing to inflation, the price of gold may rise.
- Interest rates: When interest rates are low, the opportunity cost of storing gold is low, resulting in more demand and a higher price.
- Supply and demand: The price of gold, like any commodity, is mostly driven by supply and demand. The price of gold will rise if there is more demand than supply.
It is important to note that the price of gold may be volatile and change dramatically over time. Before making any investment decisions, it’s always a good idea to conduct your own research and speak with a financial expert.