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

The gold market in Nepal has experienced a remarkable surge, reaching a new record high on August 13, 2024.

The Federation of Nepal Gold and Silver Dealers' Association (FENEGOSIDA) reports that the price of fine gold has jumped to Rs. 1,50,800 per tola, a notable increase from yesterday's rate of Rs. 1,48,700 per tola.

Tejabi gold has also seen a rise, now priced at Rs. 1,50,100 per tola, up Rs. 2,100 from the previous day's Rs. 1,48,000 per tola.

This follows a peak in fine gold prices at Rs. 1,50,000 per tola on August 5, 2024, highlighting the market's volatility.

Silver prices have similarly increased by Rs. 25 per tola, with the current rate set at Rs. 1,740 per tola, up from Rs. 1,715 per tola yesterday.

Despite the domestic market's upward trend, global economic factors continue to play a significant role. The latest international gold rate is $2,460.50 per ounce, while silver is priced at $27.63 per ounce on the global market.