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

The gold market in Nepal has hit a new record high, experiencing a significant surge on August 18, 2024.

According to the Federation of Nepal Gold and Silver Dealers' Association (FENEGOSIDA), the price of fine gold has surged to Rs. 1,52,600 per tola, a notable increase from the previous day's Rs. 1,49,600 per tola.

Tejabi gold has also risen, now trading at Rs. 1,51,900 per tola, up by Rs. 3,000 from yesterday's Rs. 1,48,900 per tola.

This follows a previous peak in fine gold prices, which reached Rs. 1,50,800 per tola on August 13, 2024, underscoring the market's volatility.

Silver prices have also climbed, increasing by Rs. 50 per tola to Rs. 1,810 per tola, compared to Rs. 1,760 per tola yesterday.

While domestic market trends show an upward trajectory, global economic factors remain influential. The current international gold price stands at $2,507.70 per ounce, with silver priced at $29.01 per ounce on the global market.