Russia-Ukraine crisis: Gold price sees increase in Nepal

Updated:4 years, 4 months ago

Kathmandu (Nepal), Mar 10 (ANI): Setting out a new all-time-high record, the price of precious 24 carats yellow metal on Wednesday reached 105,500 Nepali Rupees as a result of the ongoing Ukraine-Russia conflict that entered the fourteenth day today. Earlier, the price of gold had touched the high point of 103,500 (Nepali Rupees) when the COVID pandemic was crumbling the world economy. On Wednesday, the price increased by a whopping Rs 2500 per tola. As the price of gold has high exchange value and is considered an investment, people now are vying to sell their possession. Nestled in between India and China, the price of gold is a determinant of Nepal's transaction that occurs dominantly in both countries. With Russia and Ukraine in a state of war, the price of each and every commodity and essential has already increased across the globe. As people rush to secure their funds by investing in gold the demand has soared within a short time shooting up the price. The latest regulation of the central bank of Nepal, the Nepal Rastra Bank (NRB) also has resulted in the price of yellow stone being dearer. Earlier this month NRB limited the import of gold to 10 kg per day.

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Russia-Ukraine crisis: Gold price sees increase in Nepal

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