Gold and silver prices surge by over 4%

Kathmandu February 14- Gold and silver prices increased by whopping Rs 2,200 and Rs 30 pertola, over the week — from February 7 to 12.

Gold and silver prices have gone up for four consecutive weeks in the domestic market as the increasing demand of the precious metals has pushed the prices higher in the international market.

In the last one month alone, gold and silver prices have skyrocketed by Rs 5,600 and Rs 65 pertola, respectively, in the domestic market.

The prices of the precious metals in the domestic market are governed by the rates set in the international market.

Gold price has increased by 4.13 per cent in the week to over 22-month high and silver price has also recorded a weekly gain of 4.19 per cent to about nine-month high in the domestic market, according to Federation of Nepal Gold and Silver Dealers’ Association (FeNegosida).

The last time the precious yellow metal was traded at a similar level was on March 23, 2014, when it was priced at Rs 55,800 pertola.

Silver, on the other hand, was priced at Rs 750 pertola on May 19 of last year.