Gold and silver prices climbed to fresh all-time highs in the domestic market of Nepal on Sunday, the first trading day of the week, extending the strong upward trend seen in recent weeks.
According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of gold has been fixed at Rs 303,800 per tola (11.66 grammes) on Sunday, January 25, up Rs 2,400 from Rs 301,400 per tola on Friday, January 23. Gold had crossed the Rs 300,000 mark for the first time on Friday, setting a historic milestone in the domestic bullion market.
Silver prices also rose sharply, increasing by Rs 290 per tola to Rs 6,480 on Sunday, compared to Rs 6,190 per tola in the previous trading session.
The recent surge follows a steep rise last week, when gold jumped from Rs 292,200 per tola on Thursday to Rs 301,400 on Friday, while silver climbed from Rs 5,870 to Rs 6,190 per tola over the same period.
International media reported that gold was trading at around US dollars 4,987 per ounce, while silver stood at 103 US dollars per ounce in the global market.
Bullion traders have attributed the continued rise in domestic prices to strong trends in the international market. The Federation determines local gold and silver prices based on movements in international rates.
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