Gold Prices Soar to Record Highs in Nepal: Domestic and International Factors at Play


The price of gold in Nepal soared to new heights on March 28, 2024, reaching an all-time high. The Federation of Nepal Gold and Silver Traders’ Association reported a big jump of Rs. 1,100 in a single day, pushing the price of fine gold to Rs. 1,27,900 per tola, up from its previous rate of Rs. 1,26,800. Another sought-after type, Tejabi gold, also saw a significant increase, now priced at Rs. 1,27,300 per tola compared to its earlier rate of Rs. 1,26,200. Just a week before, on March 21, fine gold had hit a historic peak at Rs. 1,27,800 per tola. Similarly, silver prices rose to 1,510 rupees per tola, up by 20 rupees from the day before, indicating a general upward trend in the market.

While Nepal’s domestic market experiences these price surges, the international market’s influence is also crucial. As of the latest update, the global gold rate stands at $2,194.50 per ounce, with silver prices at $24.59 per ounce, both showing positive momentum. These international trends impact Nepal’s market, contributing to the fluctuations observed locally. The continuous rise in gold and silver prices reflects a dynamic market influenced by both domestic and international factors, shaping the economic landscape for traders and consumers alike.

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