Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The price of gold in Nepal has surged to an all-time high, crossing Rs 230,000 per tola for the first time. According to the Federation of Nepal Gold and Silver Dealers’ Association, the gold price reached Rs 230,600 per tola on Sunday, marking a sharp rise in the domestic bullion market following the Dashain holidays.
On October 12 (Asoj 12), gold was priced at Rs 223,200 per tola, meaning the price jumped by Rs 7,400 in a single day. This marks the highest recorded price in Nepal’s gold trading history.
The federation stated that the increase was influenced by the global market trend, where gold prices have also been rising due to ongoing geopolitical tensions and investors shifting towards safe-haven assets.
Meanwhile, silver prices also witnessed an upward trend. Silver, which was priced at Rs 2,810 per tola on October 12, climbed to Rs 2,930 per tola on Sunday.
Analysts say the continued rise in gold prices could impact jewelry demand and overall trading volume in the domestic market. However, bullion traders expect prices to remain volatile amid global economic uncertainties, oil price fluctuations, and the strengthening of the US dollar.
The surge in precious metal prices comes at a time when Nepal’s business and investment climate is facing challenges, with import restrictions and a volatile foreign exchange market adding pressure on consumers and traders alike.
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