Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Gold and silver prices in the domestic market climbed to fresh record highs on Tuesday, extending a sharp upward trend driven by rising international prices and strong local demand.
According to traders, the price of gold increased by Rs 2,700 per tola in a single day, while silver rose by Rs 70 per tola, marking one of the steepest daily gains in recent weeks.
For Tuesday’s trading, fine gold has been fixed at Rs 284,700 per tola, up from Rs 282,000 per tola on Monday. The previous day had already seen a sharp increase of Rs 4,200 per tola, underscoring the rapid pace of price escalation in the bullion market.
Market participants said gold prices have been setting new records almost daily, reflecting heightened volatility in global commodity markets and continued investor preference for safe-haven assets.
Silver prices have followed a similar trajectory. On Tuesday, silver was traded at Rs 5,880 per tola, up from Rs 5,810 per tola on Monday. Compared to Sunday, silver prices have increased by Rs 185 per tola, indicating sustained upward pressure.
The surge in domestic bullion prices mirrors strong gains in the international market. In the global market, gold prices climbed to USD 4,714.46 per ounce, up from USD 4,671.13 per ounce on Monday.
Silver prices in the international market also increased, rising from USD 93.19 per ounce to USD 94.35 per ounce, further reinforcing the bullish trend.
Traders said the domestic market closely tracks international price movements, with exchange rate dynamics and import costs amplifying the impact on local prices.
The continuous rise in gold and silver prices has raised concerns among consumers, particularly ahead of the wedding season, when demand for gold jewelry typically increases. Jewelers said higher prices may dampen retail demand, even as investment demand remains strong.
Market analysts noted that geopolitical uncertainties, expectations of monetary easing in major economies, and strong institutional demand are contributing to elevated global bullion prices. Unless there is a significant correction in the international market, prices in Nepal are expected to remain volatile in the near term.
With both gold and silver trading at historic highs, bullion traders said close attention will remain on global economic signals and currency movements, which are likely to determine the next direction of prices.
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