April 5: The price of gold price has set a new record again. According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of gold has increased by Rs 2,000 per tola (11.66 grams) to reach an all-time high of Rs 111,000 per tola. This is the maximum price of gold ever recorded in Nepal so far.

Prior to this, the highest price of gold was recorded on March 19 at Rs 110,000 per tola.

The precious yellow metal was traded at Rs 109,000 on Tuesday, the previous trading day.

According to Mani Ratna Shakya, president of the federation, the price of gold has increased due to the increase in the value of the US dollar.

“When the price of the dollar increases, it affects the price of gold. There is no way to say how far it will go, I think it will increase further,” he told New Business Age.

Similarly, the price of silver has also increased on Wednesday. According to the federation, the price of silver increased by Rs 40 on Wednesday and is being traded at Rs 1,440 per tola. On the previous day, silver was traded at Rs 1,400 per tola.