Meanwhile in Nepal 
The price of gold has reached an all-time high with an increase of Rs 1,600 per tola in the domestic market on Monday.
Fine gold is being traded at Rs 131,600 per tola on Monday. It remained stagnant at Rs 130,000 per tola on Sunday.
Gold prices recently surged to a new peak, indicating a major spike in the rates in the global market too. The reason of this uptrend has been attributed to the speculations of an interest rate cut by the US Federal Reserve in June.
The anticipation linked to the US Federal Reserve rate cut has made a significant impact on both domestic and international markets, adding to the gold prices in the country.
According to data by the World Gold Council, central banks’ acquisitions of gold in 2023 amounted to 1,037 tonnes, falling slightly short of the record established in 2022.
The upward trend for the gold prices is set to continue throughout the month, factoring the geopolitical tensions and the uncertainty on the macroeconomic front. The US monetary policy is also expected to influence the gold prices in the coming weeks.
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