Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Gold and silver prices continued their upward trend in the domestic bullion market on Monday, extending gains from Sunday and pushing prices sharply higher within just two trading days.
According to the Federation of Nepal Gold and Silver Dealers Association, the price of hallmark gold increased by Rs 3,200 per tola on Monday, reaching Rs 313,500 per tola.
On Sunday, gold had been traded at Rs 310,300 per tola, after rising by Rs 5,600 in a single day. With increases recorded on both Sunday and Monday, the yellow metal has surged by Rs 8,800 per tola within two days.
Despite the recent rise, gold still remains below its historic peak recorded on Magh 15, when it traded at an all-time high of Rs 339,300 per tola in the domestic market.
Silver prices also followed the same upward trajectory. On Monday, silver rose by Rs 170 per tola, reaching Rs 5,595 per tola.
A day earlier, on Sunday, silver was traded at Rs 5,425 per tola, after posting a sharp increase of Rs 375 per tola. This means silver prices have climbed by Rs 545 per tola over the past two days.
Like gold, silver is also trading below its previous record. The metal had reached its historic high on Magh 15, when it was traded at Rs 7,505 per tola.
Bullion traders say the recent increase in domestic prices reflects movements in the international gold market, currency fluctuations, and seasonal demand in the local market, which often influence short-term price trends in Nepal.
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