Nepal's Gold Market Hits All-Time Highs in Spectacular Surge

Nepal's gold and silver market has achieved an extraordinary milestone, reaching an all-time high on May 31, 2024.

The Federation of Nepal Gold and Silver Traders' Association has reported a significant surge in fine gold prices, skyrocketing by Rs. 1,700 to an unprecedented Rs. 1,42,200 per tola, marking a substantial increase from its previous rate of Rs. 1,40,500.

Similarly, the price of Tejabi gold has experienced a remarkable uptick to Rs. 1,41,500 per tola, rising by Rs. 1,700 compared to the previous day's rate of Rs. 1,39,800 per tola.

The pinnacle price for fine gold was documented on May 20, 2024, reaching Rs. 141,800 per tola.

Conversely, the price of silver has seen a marginal dip of Rs. 25 per tola, with the current market rate standing at Rs. 1,875 per tola, down from yesterday's figure of Rs. 1,900 per tola.

While domestic market prices continue their upward trajectory, global dynamics retain their influence, with the latest international figures indicating gold trading at $2,341.60 per ounce, whereas the global silver price has decreased to $30.88 per ounce.