Gold hits record high of Rs 160,400 per tola in Nepali market

KATHMANDU: The price of gold has reached an all-time high in the domestic market, with fine gold now being traded at Rs 160,400 per tola, according to the Federation of Nepal Gold and Silver Dealers’ Associations (FENEGOSIDA). This marks a significant increase of Rs 700 per tola from the previous day, setting a new record for the precious metal in Nepal.

Earlier this week, on Tuesday, the price of gold had already reached an unprecedented level of Rs 159,700 per tola. However, today’s spike has surpassed that, reflecting the continued rise in gold prices globally.

In addition to gold, the price of silver has also surged. Silver is now being traded at Rs 1,955 per tola, an increase of Rs 40 from the previous day when it was sold at Rs 1,915 per tola.

The steady increase in the price of both gold and silver comes amid global economic uncertainties, leading investors to turn to precious metals as safe-haven assets.