April 4: Price of gold has set a new record in the domestic market on Thursday.

According to the Federation of Nepal Gold and Silver Dealers Association, the price of the precious yellow metal has increased by Rs 1,000 per tola (11.66 gram) on Thursday.

Hallmark gold is being traded at Rs 134,000 per tola on Thursday, up from Rs 133,000 per tola on the previous day, the federation posted on its website.

Similarly, price of worked gold has reached Rs 133,350 per tola on Thursday against Rs 132,350 Wednesday.

Likewise, price of silver has been fixed at Rs 1,650 per tola, an increase of Rs 40 per tola. Silver was traded at Rs 1,610 on Wednesday.

The price of gold has been rising steadily in the past few weeks. The federation fixes the price of gold and silver based on the price in the international market.

The recent geopolitical tension due to the Israel’s offensive in Gaza and the Russia-Ukraine war have led to investors to invest in gold considering it as a safe haven in times of turmoil.