KATHMANDU, SEPTEMBER 25
The price of gold in the domestic market has soared by Rs 700 per tola on Wednesday, pushing it past the Rs 160,000 threshold for the first time, setting a new record in Nepal.
The price of fine gold witnessed sharp increases in recent days. On Friday, it rose by Rs 1,500 per tola, followed by an additional Rs 1,700 jump on Sunday. The upward trend continued into Monday, with a more modest rise of Rs 400 per tola, and Rs 500 per tola on Tuesday.
The surge in the Nepali gold market is closely linked to international market trends. Investors have been drawn to gold following the US Federal Reserve's decision to lower interest rates, leading to increased demand for the precious metal globally.
According to the Federation of Nepal Gold and Silver Dealers' Association, fine gold is now being traded at Rs 160,400 per tola, up from Rs 159,700 per tola on Tuesday.
Similarly, silver prices have also seen an upward shift, rising by Rs 40 per tola on Wednesday. The price of silver now stands at Rs 1,955 per tola, up from Rs 1,915 on Tuesday.
