The price of gold set yet another new record in the domestic bullion market on Tuesday. The price of a tola of gold reached Rs. 76,700, the highest price of the yellow metal ever recorded in Nepal.

The price of gold increased by Rs. 200 per tola (11.66 grams) today and was traded at Rs. 76,700 per tola. On Monday, it was traded at Rs. 76,500 per tola.

A significant increase in the gold price in the international market has contributed to the increase in its price in the local market for the last couples of weeks, said Tej Ratna Shakya, a gold trader.

The price of gold had reached Rs. 76,500 per tola on January 3, 2020 that was also a record high price in Nepali gold market.

The international share market and other trading activities have dropped due to the fear of investors’ concerns over the coronavirus outbreak in China, resulting in an increase in gold demand.