KATHMANDU, NOVEMBER 13

The price of gold surged by Rs 5,900 per tola in the domestic market on Thursday, reaching Rs 250,200 per tola, according to the Federation of Nepal Gold and Silver Dealers' Association.

The precious metal was traded at Rs 244,300 per tola on Wednesday, following a decline of Rs 2,100 per tola the previous day.

Gold had previously hit Rs 258,000 per tola the record high price in the domestic market on the month of Asoj. It had reached Rs 253,500 per tola on Kartik 3 before the market closed for the Tihar festival. Prices had then fallen steadily, reflecting the international market trend, and reached a low of Rs 236,300 per tola during the festive period. Since then, prices have been on a gradual rise, approaching record levels once again.

Similarly, silver also witnessed a sharp increase, soaring by Rs 170 per tola to reach Rs 3,345 per tola - the highest ever recorded in the Nepali market. On Wednesday, silver was traded at Rs 3,175 per tola.