Dhanteras

October 29, 2024 10:38 PM

India’s festive gold buying spree continues, defying record price

Indian buyers of gold brushed off record high prices and made purchases for the Dhanteras and Diwali festivals starting on Tuesday, hoping bullion would continue to rally and deliver promising returns amid a cooling stock market, industry officials told Reuters. Robust demand in the world's second-biggest gold consumer could further support global prices, which hit record highs last week. Rising demand for imports of gold could also widen India's trade deficit and put pressure on the rupee. "P...

October 29, 2024 7:19 PM

Gold coin sales surge in Nepal as Tihar Puja approaches

Tihar is a five-day festival that starts on Wednesday and is the second biggest celebration after Dashain. Nepalese celebrate it by cleaning their houses, preparing traditional delicacies, buying new ornaments and utensils, and decorating their homes. People are decked up for Tihar with new clothes, gifts, sweets, and flowers. On the occasion of Dhanteras, Nepal Rashtriya Bank was selling 2.5 gm gold coins on a first-come, first-buy basis, limited to one coin per person. Thousands of people hav...

October 28, 2024 11:19 PM

High gold rates dampen Dhanteras festivities on 29 October

Hallmark gold in the Nepal market is selling at NPR 1,43,175 per 10 grams. The price of 24-carat gold has steadily risen from NPR 1,29,030 in August to its current value. This local rate exceeds the international gold price, which stands at NPR 1,16,951.66. The difference in rates is attributed to dealer margins, transportation costs, exchange rate fluctuations, import duties, and taxes. The surge in gold prices has dampened the festive spirit of communities preparing to celebrate the Dhanteras...