Gold Price Continues to Surge to Record High in Domestic Market of Nepal

Prices of gold and silver continued to rise in the domestic market of Nepal on Wednesday, following a sharp upward trend over the past few days.

The Federation of Nepal Gold and Silver Dealers Association has fixed the price of gold at Rs 278,000 per tola (11.66 grams), up from Rs 276,500 on Tuesday. Silver also surged, reaching Rs 5,655 per tola compared to Rs 5,340 the previous day.

According to dealers, the sharp increase is driven by fluctuations in the US dollar, ongoing global economic uncertainty, and rising domestic demand ahead of the traditional wedding season of Magh and Falgun (mid-January to mid-March).

On the international front, gold was priced at USD 4,635 per ounce, while silver stood at USD 90 per ounce, also reflecting an upward trend globally.

Over the past three days, gold prices have risen steadily, hitting record highs. On Sunday, fine gold traded at Rs 270,600 per tola, matching the previous record set on December 28, before climbing to Rs 274,700 on Monday and then Rs 276,500 on Tuesday. Silver prices have followed the same trend, rising from Rs 4,990 per tola on Sunday to Rs 5,195 on Monday and Rs 5,340 on Tuesday.