Gold Price Soars, Up by Rs 5,800 per Tola to Reach Rs 296,800

Kathmandu. The price of gold and silver in the Nepali market witnessed a sharp surge on Wednesday. According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of hallmarked gold rose by Rs 5,800 per tola today, reaching Rs 296,800 per tola.

On Tuesday, hallmarked gold was traded at Rs 291,000 per tola. The single-day price hike signals a record high in recent times, dealers say.

Similarly, silver prices also saw a notable increase today. As per the federation, silver rose by Rs 175 per tola and is being traded at Rs 5,055 per tola on Wednesday. On Tuesday, silver was traded at Rs 4,880 per tola.

The rally in the domestic market is a direct reflection of the surge in the international market. According to international media reports, the price of gold in the global market reached USD 4,630 per ounce today, while silver for the same quantity is being traded at USD 74 per ounce. Analysts point to a declining US dollar index, geopolitical tensions, and trade wars as key factors driving investors toward gold as a safe-haven asset, pushing international prices to new highs.

The Federation of Nepal Gold and Silver Dealers’ Association stated that it determines the daily domestic market price based on international market rates.