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

The gold and silver market in Nepal has achieved a historic milestone with prices reaching unprecedented levels on June 7, 2024, marking back-to-back records.

According to the Federation of Nepal Gold and Silver Traders' Association, fine gold prices surged by Rs. 1,000, hitting an all-time high of Rs. 1,45,000 per tola, significantly up from its previous rate of Rs. 1,44,000.

Similarly, Tejabi gold also witnessed a notable uptick, rising by Rs. 1,000 to Rs. 1,44,300 per tola compared to the previous day's rate of Rs. 1,43,300.

This surge follows the highest recorded price for fine gold on June 6, 2024, standing at Rs. 1,44,000 per tola.

Additionally, the price of silver saw a slight increase of Rs. 50 per tola, with the new price at Rs. 1,900 per tola, up from yesterday's Rs. 1,850 per tola.

International factors continue to wield influence over Nepal's precious metals market, with the latest international gold rate at $2,385.50 per ounce and silver priced at $31.41 per ounce globally. The surge in gold and silver prices in Nepal reflects ongoing shifts in both domestic and international economic landscapes, impacting traders and consumers alike.