KATHMANDU: The price of yellow metal has reached all-time record high in the local market on Friday.
Nepal Gold and Silver Dealers' Association (NEGOSIDA) said that hallmark gold was traded at Rs 56,000 per tola, breaking the records of last December 1, 2011 of Rs 55,800. On Thursday, hallmark gold was traded at Rs 55,400.
Chairman of NEGOSIDA Tejratna Shakya said that rate of gold was increased following the government decision to increase duty in gold imports. Earlier, the traders were paying Rs 1,749 duty while importing gold but from today the rate of duty has been increased to Rs 2,682.
Similarly, the rate of used gold also reached a record high in the local market. Used gold was traded at Rs 55,790 per tola. On Thursday, it was traded at Rs 55,190.
However, price of silver has decreased Rs 5 per tola to Rs 1,070.