Prices of precious metals surge to month high

Kathmandu February 5- Gold price surged by Rs 300 in a single day to over a seven-month high of Rs 52,000 a tola on Thursday, while silver rose by Rs 10 to nearly a three-month high of Rs 700 per tola.

The last time the precious yellow metal had traded at a similar level was on June 22 of last year, when it was priced at Rs 52,200 a tola. Silver, on the other hand, was priced at Rs 700 per tola on November 9.

The price of the precious metals in the international market has been buoyed by expectations that global economic and financial headwinds could make it tough for the US Federal Reserve to raise interest rates in the near term.

The price of the precious metals in the domestic market is governed by the rates set in the international market.