The price of gold has reached a new peak, surpassing Rs 161,000 a tola.

After rising by Rs 500 on Friday, the price of gold in Nepal has now crossed Rs 161,000 per tola, setting a new record.

The Federation of Nepal Gold and Silver Dealers' Association reports that fine gold prices have increased from Rs 160,700 on Thursday to Rs 161,200 per tola.

This month, the price of gold in the United States has been steadily rising. The price of pure gold dropped to Rs 156,400 on Ashoj 2 from Rs 156,700 on Ashoj 1. But it has kept rising, especially after the US Federal Reserve decided to cut interest rates, which attracted investors to gold and increased demand for it globally.

Silver prices have not changed whereas those of gold have. In spite of gold's sharp increase, the price of silver has remained steady at Rs 1,955 per tola since Wednesday.