The price of gold in the domestic market of Nepal soared to a record high on Thursday, October 9, continuing its sharp upward trend over the past few days, particularly after the Dashain festival. The surge in international gold prices has directly influenced the local market.
According to the Federation of Nepal Gold and Silver Dealers Association, the price of fine gold increased by Rs 1,200 per tola on Thursday compared to Wednesday. With this rise, gold is being traded at Rs 239,200 per tola, up from Rs 238,000 the previous day.
The price of silver has also gone up. Silver, which was traded at Rs 2,955 per tola on Wednesday, climbed to Rs 3,025 per tola on Thursday, the federation said.
The federation sets the daily market rate of gold and silver in Nepal based on international prices.
In the global market, gold surpassed $4,000 per ounce for the first time on Wednesday as investors flocked to the safe-haven asset amid concerns over a potential U.S. government shutdown, AFP reported. The price further surged to $4,055 per ounce on Thursday, according to international media reports.
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