Breaking Records: Nepal's Gold Market Hits All-Time High

Nepal's gold market has surged to unprecedented levels, reaching a historic peak on May 16, 2024.

The Federation of Nepal Gold and Silver Traders' Association reported that fine gold has skyrocketed by Rs. 1,600, hitting an extraordinary Rs. 1,40,000 per tola, marking a significant increase from its previous price of Rs. 1,38,400.

Similarly, the price of Tejabi gold has risen to Rs. 1,39,300 per tola, up by Rs. 1,550 compared to the previous day's rate of Rs. 1,37,750 per tola.

The previous peak price was recorded on April 19th, 2024, when fine gold reached an all-time high of Rs. 1,39,300 per tola.

Moreover, the cost of silver has also witnessed an uptick of Rs. 60 per tola, setting the new price at Rs. 1,805 per tola, an increase from yesterday's Rs. 1,745 per tola.

While domestic markets continue their upward trajectory, international factors play a significant role. Presently, the latest international gold rate stands at $2,391.10 per ounce, with silver priced at $29.53 per ounce in the global market.