Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Gold prices in the Nepali market recorded a sharp rebound on Sunday, pushing the gold rate in Nepal back above the key Rs 300,000 threshold amid continued volatility in the precious metals market.
According to the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA), the price of fine gold increased by Rs 9,500 per tola in a single day, fixing the new rate at Rs 300,500 per tola. The surge comes after consecutive declines late last week, highlighting strong fluctuations in the Nepal bullion market.
Gold had fallen significantly in the previous trading sessions. On Thursday, the price dropped by Rs 9,500 per tola, followed by another decline of Rs 4,200 per tola on Friday. With Sunday’s rise, the market has reversed much of that short-term correction, reflecting renewed momentum in gold trading in Nepal.
For comparison, gold was traded at Rs 291,000 per tola on Friday, while on Thursday the rate stood at Rs 295,200 per tola. This wide price swing within just a few trading days underscores the sensitivity of the domestic market to international gold trends, currency movements, and regional demand dynamics, particularly from South Asia.
Market observers link the latest increase to global factors that typically drive demand for gold as a safe-haven asset, including economic uncertainty, inflation concerns, and investor preference for physical assets during volatile financial conditions. In Nepal, gold also holds strong cultural and seasonal demand, which often amplifies global price movements in the local market.
Silver prices also moved upward on Sunday. The price of silver rose by Rs 300 per tola, reaching Rs 5,010 per tola, according to the federation. Previously, silver was traded at Rs 4,710 per tola on Friday and Rs 4,980 per tola on Thursday. The parallel rise in silver reflects broader strength in the precious metals segment, where both investment and industrial demand play roles.
The increase in gold and silver prices is expected to affect retail jewellery businesses, consumer purchasing behavior, and overall commodity market activity in Nepal. Higher prices often slow down immediate consumer buying, particularly for jewellery, while investors may increase purchases in anticipation of further gains.
As Nepal relies heavily on imports for bullion, domestic prices are directly influenced by international market rates, the US dollar exchange rate, and regional pricing trends, especially in India. Daily rates published by the federation serve as the benchmark for traders and jewellers across the country, making such movements critical for the broader Nepal economy and bullion trade.
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