Extraordinary Surge: Gold And Silver Prices Reach All-Time High in Nepal

The gold and silver market in Nepal has reached unprecedented heights, hitting a historic peak on May 19, 2024.

The Federation of Nepal Gold and Silver Traders' Association has reported a remarkable surge in fine gold prices, soaring by Rs. 1,600 to an extraordinary Rs. 1,40,900 per tola, marking a significant increase from its previous price of Rs. 1,39,300.

Similarly, the price of Tejabi gold has seen a notable rise to Rs. 1,40,200 per tola, up by Rs. 1,550 compared to the previous day's rate of Rs. 1,38,650 per tola.

This peak surge was observed on May 16, 2024, when fine gold hit an all-time high of Rs. 140,000 per tola.

Furthermore, the cost of silver has also experienced an uptick of Rs. 110 per tola, setting the new price at Rs. 1,910 per tola, an increase from yesterday's Rs. 1,800 per tola.

While domestic markets continue their upward trajectory, international factors play a significant role. Currently, the latest international gold rate stands at $2,414.40 per ounce, with silver priced at $31.48 per ounce in the global market.