Nepal's Gold Market Shatters Records, Surges to Unprecedented Highs

The gold and silver market in Nepal has reached unprecedented heights, hitting a historic peak on May 20, 2024.

The Federation of Nepal Gold and Silver Traders' Association has reported a remarkable surge in fine gold prices, soaring by Rs. 900 to an extraordinary Rs. 1,41,800 per tola, marking a significant increase from its previous price of Rs. 1,40,900.

Similarly, the price of Tejabi gold has seen a notable rise to Rs. 1,41,100 per tola, up by Rs. 900 compared to the previous day's rate of Rs. 1,40,200 per tola.

This peak surge was observed on May 19, 2024, when fine gold hit an all-time high of Rs. 140,900 per tola.

Furthermore, the cost of silver has also experienced an uptick of Rs. 30 per tola, setting the new price at Rs. 1,940 per tola, an increase from yesterday's Rs. 1,910 per tola.

While domestic markets continue their upward trajectory, international factors play a significant role. Currently, the latest international gold rate stands at $2,448.20 per ounce, with silver priced at $32.15 per ounce in the global market.