By A Staff Reporter
Kathmandu, Dec.18: Gold price increased in the domestic bullion market on Friday. The price of gold increased by Rs. 1,000 per tola in the local market on Friday compared to its price on Thursday.
Gold, which had been traded at Rs. 93,000 per tola on Thursday, was traded at Rs. 94,000 per tola on Friday, according to the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA).
Likewise, the price of silver also increased to Rs. 1,250 per tola from Rs. 1,235 on Thursday.

Gold trader and former president of FENEGOSIDA Tej Ratna Shakya said that the price of gold had increased in the local market due to an increase in its price in the international market.
Price of gold increased by USD 21 per ounce to USD 1,804 in the international market today.

Gold price has increased in the international market due to increased demand, he said. Devaluation of Nepali currency against US dollar has also contributed to the increase in the prices of gold and silver in the domestic market over the days.
The price of gold has increased by 1,700 per tola in the last two trading days since Thursday, he said. The price of gold price has increased by 1,500 per tola over the week since Sunday, when the price was at Rs. 92,500 per tola.
The demand for gold has also decreased by 50 per cent in the domestic market due to off wedding season, he said and added that daily gold transactions stood at 20 kg at present while it was 40 kg till a week ago.