Kathmandu- Prices of gold and silver continued to rise in the domestic market on Thursday, reaching record highs, largely influenced by the strengthening of the US dollar, according to traders and market analysts.
The Federation of Nepal Gold and Silver Dealers’ Association reported that the price of hallmark gold increased to Rs 269,000 per tola, up from Rs 267,500 per tola recorded last Thursday. Gold prices have shown a consistent upward movement over the past several days.
Silver prices also registered a sharp increase. Silver is being traded at Rs 4,585 per tola on Thursday, compared to Rs 4,400 per tola a week earlier. Both gold and silver prices touched their highest-ever levels in the local market.
On Wednesday, gold was sold at Rs 268,100 per tola, while silver was traded at Rs 4,420 per tola, indicating sustained bullish momentum in the precious metals market.
Market analysts attribute the price surge primarily to the appreciation of the US dollar, which has had a direct impact on global commodity prices.
In the international market, gold is currently being traded at around USD 4,500 per ounce, while silver stands at USD 75 per ounce, according to international news agencies.
One tola is equivalent to 11.66 grams, while one ounce equals 31.1035 grams.
