Gold prices surge, setting new record in Nepali market

Kathmandu: The domestic gold market witnessed a remarkable surge in prices on Friday, as gold climbed by Rs 2,100 per tola, reaching an all-time high. Similarly, silver prices also saw an increase, rising by Rs 15 per tola.

According to the Federation of Nepal Gold and Silver Dealers’ Association, fine gold is now being traded at Rs 130,000 per tola, marking a substantial rise from Rs 127,900 per tola recorded just a day prior on Thursday. This surge follows a notable increase of Rs 1,100 per tola in gold prices on Thursday, compared to Wednesday’s rates, bringing the total increase in gold prices this week alone to Rs 3,500 per tola.

Concurrently, the price of tejabi gold has risen to Rs 129,400 per tola from Rs 127,300 per tola on Thursday, reflecting the upward trend in the market.

In tandem with the surge in gold prices, the silver market also observed a rise of Rs 15 per tola, now trading at Rs 1,525 per tola, up from Rs 1,510 per tola on Thursday. Notably, silver had already seen an increase of Rs 20 per tola on Thursday as well.