Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The price of gold in the Nepali market surged sharply on Tuesday, rising by Rs 3,800 per tola to reach Rs 317,000 per tola, according to the Federation of Nepal Gold and Silver Dealers’ Association.
The increase follows a decline a day earlier. On Monday, gold prices had fallen by Rs 3,700 per tola, with the precious metal trading at Rs 313,200 per tola in the domestic market.
Silver Prices Also Rise
Silver prices also recorded a notable increase on Tuesday. The federation reported that silver rose by Rs 310 per tola, bringing the price to Rs 5,720 per tola.
A day earlier, silver had declined by Rs 65 per tola, reflecting volatility in the precious metals market.
International Market Influence
The rise in domestic bullion prices follows an increase in international markets. On Tuesday, gold prices climbed to $5,168.85 per ounce, while silver reached $88.59 per ounce.
By comparison, on Monday the international price of gold stood at $5,059.52 per ounce, and silver was trading at $83.26 per ounce.
Traders say movements in global bullion markets, currency fluctuations and geopolitical uncertainty continue to influence gold and silver prices in Nepal, where the domestic market largely tracks international trends.
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