Gold prices in Nepal hit an all-time high today amid geopolitical tensions in the Middle East and trade conflict between the US and China. The gold prices rallied more than 10 per cent in July and August and they rallied around 11 per cent now.
While the US Fed rate cut expectation in July is supportive of the gold prices, experts caution against investing in gold at this time as they expect some correction in the prices going ahead. Globally, gold prices were trading higher at USD 1,429.80 an ounce. In the national capital, gold prices surged by Rs 71000.00 per 10 gm increasing Rs.1000.00.
The rise in geopolitical risk between the US and Iran, China-US trade war has supported safe-haven buying. The precious yellow metal underperformed other financial assets over 3-4 years. Gold on Comex in June month gained nearly 10.75 per cent since 2000, which is the biggest gain in the month in 19 years.