Gold surges to all-time high, sets new record

KATHMANDU: The price of gold has skyrocketed to unprecedented levels, reaching an all-time high on Thursday, surpassing its previous peak observed on March 10.

On March 10, gold hit a historic high at Rs 126,000 per tola. However, breaking this record, the price of gold surged even further on Thursday, shattering previous benchmarks.

According to the Federation of Nepal Gold and Silver Dealers’ Associations, the price of fine gold experienced a substantial increase of Rs 2,600 per tola, soaring to Rs 127,800 per tola on Thursday, compared to Rs 125,200 per tola just a day earlier.

Similarly, the price of standard gold also witnessed a remarkable surge, climbing to Rs 127,200 per tola on Thursday, up from Rs 124,600 per tola on the preceding day.

In addition to gold, the price of silver has also seen a notable uptick, rising by Rs 35 per tola. Silver is currently being traded at Rs 1,555 per tola, marking a significant increase from its price of Rs 1,520 per tola observed yesterday.

The surge in precious metal prices underscores heightened investor interest and economic uncertainty, driving demand for safe-haven assets like gold and silver.

As market dynamics continue to evolve, stakeholders closely monitor fluctuations in commodity prices for potential implications on global financial markets and economic stability.

Fiscal Nepal |
Thursday March 21, 2024, 01:37:43 PM |

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