The price of gold surged by Rs 100 per tola (11.66 grams) in the domestic market of Nepal on Thursday.
The Federation of Nepal Gold and Silver Dealers’ Association has set the price of fine gold at Rs 160,900 per tola, up from Rs 160,800 the previous day.
This follows a Rs 800 surge on Wednesday, after the three consecutive days of decline.
Last week gold price went on to break the record for six days in a row, with the price reaching Rs 161,200 per tola on Friday, September 27, the highest ever recorded in Nepal.
The surge in gold prices this year is attributed to global factors such as the intensifying conflict in the Middle East, the Russia-Ukraine war, and a 0.5 percentage point cut in US Federal Reserve interest rates, which have weakened the dollar.
Silver also saw a price rise on Thursday, rising to Rs 1,950 per tola, up from Rs 1,935 the previous day.