Kathmandu: The price of gold in the domestic market continued its upward trajectory, rising by Rs 1,700 per tola on Friday. This surge comes on the heels of a significant increase of Rs 2,300 per tola reported on Thursday. Despite a drop in international gold prices, the yellow metal’s value has soared due to ongoing price adjustments.
The recent budget announcement for the fiscal year 2080/81 played a pivotal role in this surge, as it raised the customs rate from 15% to 20% on Wednesday, further propelling the price of gold in the local market.
According to the Federation of Nepal Gold and Silver Dealers’ Association, fine gold is now being traded at Rs 142,200 per tola, marking a notable increase from Rs 140,500 per tola recorded on Thursday. Similarly, tejabi gold is priced at Rs 141,500 per tola, compared to Rs 139,800 per tola reported the previous day.
Conversely, silver prices have witnessed a decline in the Nepali market. Silver dropped by Rs 25 per tola on the day, now trading at Rs 1,875 per tola, following a previous decrease of Rs 30 per tola on Thursday when it traded at Rs 1,900 per tola.