Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Gold and silver prices in the domestic market surged to their highest levels on record on Monday, driven by sustained strength in the international bullion market and growing safe-haven demand.
According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of gold was fixed at Rs 274,700 per tola, marking an increase of Rs 4,100 compared to Sunday’s rate. On Sunday, gold had been trading at Rs 270,600 per tola.
This latest adjustment has pushed gold prices in Nepal to an all-time high, extending the upward trend that has been observed over recent weeks.
Silver prices also climbed sharply. On Monday, silver was traded at Rs 5,195 per tola, up by Rs 205 from Sunday’s price of Rs 4,990 per tola.
Market traders attribute the sharp rise primarily to higher global gold prices, volatility in international financial markets, and expectations of prolonged geopolitical and economic uncertainty, which have strengthened investor preference for precious metals. The depreciation pressure on the Nepali rupee against the US dollar has also added to domestic price increases, as Nepal is entirely dependent on imports for bullion supplies.
Jewellers say the record-high prices have begun to dampen retail demand, particularly for wedding and festive purchases, while investment demand remains relatively resilient. Silver demand, meanwhile, has been supported by both industrial use and ornamental consumption.
Analysts note that unless there is a significant correction in the international market or a strengthening of the local currency, gold and silver prices in Nepal are likely to remain elevated in the near term, increasing cost pressures for consumers and traders alike.
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