Gold Price Continues to Climb Further to Set All-Time High Record

Prices of gold and silver continued to rise in the domestic market on Tuesday, setting a new all-time high record for gold amid global economic uncertainty and strong seasonal demand.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of gold increased to Rs 276,500 per tola (11.66 grams), while silver was priced at Rs 5,340 per tola.

Gold prices have surged sharply over the past three days. On Sunday, fine gold traded at Rs 270,600 per tola, matching the previous record high set on December 28. The price rose by Rs 4,100 on Monday to Rs 274,700 per tola, before climbing further on Tuesday to set a new all-time high record

Silver prices have also followed an upward trend. Silver, which was traded at Rs 4,990 per tola on Sunday, increased to Rs 5,195 per tola on Monday and rose further on Tuesday.

Traders attribute the rise in precious metal prices to fluctuations in the US dollar, global economic uncertainty, and growing demand as the traditional wedding season of Magh and Falgun (mid-January to mid-March) approaches.

According to international media reports, gold was trading at USD 4,588 per ounce in the international market on Tuesday, while silver was priced at USD 84 per ounce. – With inputs from RSS