Kathmandu Nepal: The price of the 24 carat gold shooted up to NRS 54,700 per 11.664 grams (Tola) in Nepal on Tuesday with international effect in the gold market.
According to the Nepal Gold and Silver Dealers Association (Negosida), “Gold price in the international market went up by $ 25 per troy ounce (31.103 grams) overnight when the association fixed the rate. Agencies reported that the fresh development in euro zone crisis, which soared Italian government bond yield to near 15-year high, caused the gold price to jump by 2 percent in the international market on the day. On the day, gold had jumped to as high as $ 1,795 per troy ounce in the international trading. Though gold prices in the mid-day trading eased to $ 1,786 per troy ounce, it settled at $ 1,792 later in the day. Given the nature of problem, which soared safe haven demand, analysts have even predicted that gold could easily cross over $ 1,800 per troy ounce in the short-term.”
Source: http://www.rayznews.com