KATHMANDU: In a remarkable surge, the price of gold in Nepal reached an all-time high of Rs 126,000 per tola on Sunday, according to the Federation of Nepal Gold and Silver Dealers’ Associations. This represents a notable increase of Rs 1,000 compared to the rate recorded on Friday.
The trend of escalating gold prices has been consistent, with the precious metal witnessing a remarkable increase of Rs 8,300 per tola in the Nepali month of Falgun (mid-Feb to mid-March) alone. At the beginning of the month, gold was traded at Rs 117,700 per tola, and despite minor fluctuations, the price has not dipped below Rs 116,500 per tola.
On Sunday, standard gold also experienced an upswing, being traded at Rs 125,400 per tola, showing a rise from Rs 124,400 per tola on Friday.
Silver prices followed suit, reaching Rs 1,475 per tola on Sunday, up from Rs 1,470 per tola on both Thursday and Friday.
Internationally, the price of gold is currently trading at $2178.8 per ounce, while silver is priced at $24.31 per ounce on Sunday. This surge in precious metal prices is attributed to various global economic factors and geopolitical uncertainties, driving investors towards traditional safe-haven assets like gold and silver.
The Federation of Nepal Gold and Silver Dealers’ Associations is closely monitoring the market dynamics as the prices continue to set new records, keeping stakeholders informed about the ongoing trends in the precious metals market.