Fine gold hits record Rs 200,600; silver remains stable
KATHMANDU, AUGUST 29
The price of gold in Nepal has made history, crossing the Rs 200,000 per tola mark for the first time. According to the Federation of Nepal Gold and Silver Dealers' Association, fine gold rose by Rs 1,200 on Friday to reach Rs 200,600 per tola, a record high in the domestic precious metals market.
Gold had previously neared this threshold on Shrawan 23, when it reached Rs 199,400 per tola, but failed to break past it. Since hitting a recent low of Rs 193,500 on Bhadra 4, prices have steadily climbed, reaching Rs 199,000 on Wednesday and Rs 199,400 on Thursday before surpassing the milestone today.
The surge in prices has made the yellow metal more dearer for Nepali consumers, when gold continues to hold significant cultural, traditional, and religious value, particularly in weddings and festivals.
Meanwhile, silver prices have remained relatively stable. Silver edged up by Rs 5 per tola on Friday, trading at Rs 2,360 compared to Rs 2,355 a day earlier, continuing its recent trend of hovering around this range.
