Gold prices skyrocket to historic high of Rs 120,800 per tola in Nepali market

Kathmandu: In a significant development, the price of gold in the domestic market soared to a new record on Sunday, witnessing a remarkable surge of Rs 1,800 per tola.

As of Sunday, fine gold is commanding a price of Rs 120,800 per tola, a noteworthy increase from Friday’s rate of Rs 119,000 per tola.

The Federation of Nepal Gold and Silver Dealers’ Associations has confirmed that this marks the highest observed price for gold to date. Just two days prior, on Thursday, the rate had already reached a record high of Rs 119,300 per tola.

Simultaneously, standard gold is now being traded at Rs 120,200 per tola, compared to the Friday rate of Rs 118,450 per tola.

The surge is not limited to gold alone, as the price of silver has also reached unprecedented levels, reaching Rs 1,545 per tola on Sunday. This reflects a Rs 5 per tola increase from the previous trading day’s rate of Rs 1,540 per tola on Friday.

The relentless upward trend in gold and silver prices in the Nepali market is attributed to the impact of rising international market prices.

The consecutive hikes have left market observers and participants closely monitoring the situation for further developments.