KATHMANDU, August 2: Price of gold has reached an all-time high in the domestic market of Nepal on Friday.

According to the Federation of Nepal Gold and Silver Dealers' Association, hallmark gold, which was traded at Rs 149,400 per tola (11.66 grams) on Thursday, is being traded at Rs 149,900 per tola on Friday.

Earlier on July 17, its price had reached Rs 149,800 per tola, the state-owned RSS reported. 

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

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