Gold Price Hike – Reasons for increase in gold price

Gold Price Hike – Reasons for increase in gold price

Reasons for Gold Price Hike in Nepal, 2019 Posted On : 09-09-2019

The Nepalese Market is shook with the gold price increase reaching an all-time high. The price of the Gold in the market as of today (9 Sept, 2019) is Rs. 71,700. Just a month ago, the price of fine gold was Rs.65,000 per tola. Within a single month, the value of gold has rocketed to almost Rs.8,500 in increase.

Unsteady Share Market

The whole globe is currently facing its downfall in the share market. People have begun investing in gold rather than other investments due to the rapid loss of interest in these other investing opportunities. Every investor seems to put their trust in gold and is selling aways their shares to purchase gold securities.

unsteady stock market - Shalimar Jewellers

Trade War Between China & US

After witnessing the trade war between China & US and Trump’s policies spark confusion on a global scale, our economic graphs are facing decline. Investors who used to purchase securities like debentures, stocks and even cryptocurrencies, are now looking for gold to invest in. Hence, the value of gold is gradually increasing but at a high rate.

Geopolitical Tensions

From the issue of the US with Iran and North Korea, Brexit Issues and Kashmir issue in India, they are creating uncertainties in coming days in regard to political moves and situations. It is due to these geopolitical uncertainties that hedge is causing the prices to hike.

Fall of Dollar Value Resulting in increased Gold Price

The value of currency especially dollars is an important factor that affects the gold price. When the Indian currency value was weakened, it was obvious that the price of the gold in terms of rupees would increase. And since we have a direct relation with India being our neighboring country, we also felt the surge of gold price along with the other global economies. China has already devalued its currency (Yuan) by 2% against the US dollar. However, there is an important relationship between the two. Higher the dollar price, lower will be the gold value. Though, this time it is exactly the opposite.

Fall of Dollar Value Resulting in increased Gold Price

 

 

Click here to find out the value of gold & silver as of today. The current gold & silver price per tola in Nepal is based on “Federation of Nepal Gold & Silver Dealers Association” – the official website; located in Naxal, Kathmandu, Nepal.

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