Kathmandu — The price of gold in the domestic market surged sharply on Wednesday, increasing by Rs 10,400 per tola in a single day and reaching close to Rs 300,000.
According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of gold has been fixed at Rs 295,100 per tola for the day. This is the highest gold price ever recorded in Nepal. On the previous day, gold was traded at Rs 284,700 per tola.
Traders say the sharp rise in the international gold market has directly impacted domestic prices. In the international market, the price of gold has crossed 4,850 US dollars per ounce, pushing prices upward in Nepal as well.
Silver prices have also increased alongside gold. The price of silver rose by Rs 40 per tola on Wednesday. Silver, which was traded at Rs 5,880 per tola a day earlier, is now being sold at Rs 5,920 per tola.
Market analysts note that continued volatility in global markets and rising international demand for gold as a safe-haven asset are contributing to the sustained increase in prices.
