Gold price at Rs. 53300 a tola

Kathmandu February 8- Gold price opened at a one-year high of Rs 53,300 per tola yesterday. The last time the precious yellow metal had traded at a similar level was on February 6 last year when it was traded at Rs 53,700 a tola.

The closing price of the yellow metal last week stood at Rs 52,500 per tola.

Silver also edged up by Rs 10 pertola yesterday to be traded at Rs 715 atola in the domestic market. Silver, on the other hand, was similarly priced at Rs 715 per tola on November 4 of last year, according to the Federation of Nepal Gold and Silver Dealers’ Association.

Bullion price started to skyrocket since the last two weeks as the precious metal rallied in the international market as investors started shifting their investment to precious metals as worries over a slowing global economy hit stocks and crude oil, according to international media reports.

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