August 22, 2011 – The prices of gold reached an all-time high on Monday as the festivals of Dashain and Tihar are right around the corner.
The price of gold soared up by Rs 1,000 to reach a record high price of Rs 53,400 per tola (US $723 per 11.664 grams).
Gold is very precious to Nepalis, used in marriage ceremonies, feasts, festivals and many other social occasions.
According to Tej Ratna Shakya, president of Nepal Gold and Siver Dealers’ Association, the price hike in Nepal is because of the continued price increase of gold in international market – AHN reports.
Similarly, price of silver also reached a record high of Rs 1,265 per tola (US $18 per 11.664 grams).