Kathmandu — The price of gold surged sharply in the domestic market on Monday, increasing by Rs 4,600 per tola, according to the Federation of Nepal Gold and Silver Dealers Association.
With the latest revision, gold is being traded at Rs 265,000 per tola, up from Rs 260,400 per tola on the previous trading day.
Traders attribute the sharp rise to developments in the international market, where gold prices climbed significantly amid heightened global uncertainty following the United States’ military action and assumption of control in Venezuela. International bullion trading remains closed on Saturdays and Sundays, but prices reopened strong at the start of the week.
In the global market, gold prices have crossed USD 4,400 per ounce, creating direct upward pressure on the Nepali market.
Silver prices also recorded a notable increase. The price of silver rose by Rs 185 per tola, reaching Rs 4,685 per tola on Monday, compared to Rs 4,500 per tola a day earlier.
Market analysts note that continued geopolitical instability and investor demand for safe-haven assets could keep precious metal prices elevated in the near term.
