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Gold dearer by Rs 1, 600

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KATHMANDU, May 21: The price of gold, which was on a declining trend since some weeks, has shot up today.The yellow metal traded at 50 thousand 300 rupees per tola in the local market today, an increase of one thousand and six hundred rupees on its previous price.



The price of hallmark gold was 48 thousand and seven hundred rupees as of Monday, according to the Nepal Gold and Silver Dealers´ Association (NEGOSIDA). One tola is equivalent to 11.66 grams. [break]



Similarly, the price of worked gold has also increased today. NEGOSIDA has fixed the price of worked gold at 50 thousand 50 rupees per tola today. Worked gold traded at 48 thousand and 450 rupees per tola on Monday.



The price of pure silver has also gone up today by 35 rupees a tola and reached 865 rupees per tola.President of NEGOSIDA, Mani Ratna Shakya, said that bullion price increased in the domestic market today following the trend in the international market.



Shakya said the price of gold in the international market on Monday was one thousand three hundred and forty-five US Dollars per an ounce and it increased by 50 US Dollars per ounce today. An ounce is equivalent to 31 grams.



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