Gold Prices Today Surge, Hit New Highs Again, Silver Rises Further

Gold Prices Today Surge, Hit New Highs Again, Silver Rises Further

July 24, 2020, 1:12 p.m.

Gold prices edged higher today to hit new highs after crossing the key psychological level of Rs.95,800, tola (per 10 gram). Gold prices edged up 1300 to a new high of Rs.95,800.00 per 10 gram.

Silver rates also extended gain after a strong rally in the previous session. Silver futures rose Rs.1150 per tola. Silver futures had jumped as much the highest in over seven years.

So far this year, gold prices in Nepal have rallied 28%. But the price rally has dampened physical retail demand for gold in Nepal.

Due to weak demand, dealers were offering a discount.Weak demand had pushed down Nepal's gold imports.

Surging pandemic cases and a sharp decline in US dollar continues to lift the bullish outlook of gold. In global markets, spot gold fell 0.3% to $1,865.84 per ounce remained near nine-year highs.

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