The Nepalese gold market experienced an extraordinary surge, reaching an unprecedented peak on December 4, 2023. The Federation of Nepal Gold and Silver Dealers’ Association reported an astonishing single-day increase of Rs. 800, driving the price of fine gold to an extraordinary level of Rs. 1,21,600 per tola.
Just a day earlier, on December 3, 2023, fine gold had already achieved a historic high of Rs. 1,20,800 per tola, setting a record at that time. Another coveted variant, Tejabi gold, also witnessed a notable uptick, currently valued at Rs. 1,21,000 per tola, up from its previous rate of Rs. 1,20,200.
In contrast to the gold rally, the price of silver has remained stable at Rs. 1,545 per tola.
The surge in gold prices in the domestic market is in line with the global trend, where gold is now priced at $2,088.00 per ounce. This surge has had a significant impact on the domestic bullion market. Concurrently, silver is being traded at $25.47 per ounce on the international market.
Highlights:
- Significant Drop in Gold Prices and Silver Follows Suit in Nepal’s Domestic Market
- Nepalese Gold Market Soars to Record Highs, Fine Gold Reaches Unprecedented Rs. 119,300 per Tola
- Nepal’s gold market experiences unprecedented highs in a remarkable surge.
- Gold Surges to New All-Time High in Nepalese Market, Gaining Rs. 500 per Tola
- Gold Prices Soar to Record Highs in Nepal on March 5, 2024