Kathmandu. The price of gold has been increasing for a few days now making new records. On Wednesday, compared to the previous day, the price increased by 700 rupees per tola. On the previous day, gold was Rs 1 lakh 59 thousand 700 per tola and today it reached Rs 1 lakh 60 thousand 400.

At the moment, the price of gold has increased at a high rate in the international market, and it has had an impact in Nepal. "Gold has nothing to do with Dashain, Tihar or other festivals here, it has increased here after the price has increased in the international market," said Mani Ratna Shakya, former president of the Nepal Gold and Silver Traders Federation.

In the international market, the main reason for the price increase at the moment is the increase in demand due to the falling interest rate in the US. Shakya says that the rise in the price of gold is due to one international reason after another. Russia's attack on Ukraine and the subsequent international conflict, Iran and Israel conflict, the economy of many countries in the world, including the United States, etc., increased the price of gold.

The US Federal Reserve recently cut interest rates by 0.50 percentage points. While reducing the interest rate, bank president Jerome H. Powell indicated that if there is no further pressure on the price increase, the interest rate will be reduced further. For this reason, there is talk of further interest rate reduction until December. When the interest rate falls, the stock market also goes up along with gold.