Gold soars as virus fears drive investors to seek safety
Kathmandu, June 22 -- Bullion traders say gold prices may soon reach six figures the way they have been setting new records every passing day. The precious metal traded at an all-time high of Rs91,000 per tola on Monday, up Rs14,000 from pre-lockdown days.
The yellow metal has been on an upward trajectory with savers seeing it as a solid investment amid the economic turmoil created by Covid-19. There is no letup in virus caseloads, and many countries are bracing for a second phase of lockdown.
Nepalis have been selling their gold holdings for living expenses as many of them have lost their jobs or are not being paid fully, said bullion traders. Self-employed people have lost their livelihoods as businesses have been shut down for months...
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