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

Nepal's gold and silver market has achieved a historic milestone, with prices soaring to unprecedented levels on June 6, 2024.

According to the Federation of Nepal Gold and Silver Traders' Association, fine gold prices surged by Rs. 1,800, reaching an all-time high of Rs. 1,44,000 per tola, marking a substantial increase from its previous rate of Rs. 1,42,200.

Similarly, Tejabi gold also experienced a remarkable uptick, rising by Rs. 1,800 to Rs. 1,43,300 per tola compared to the previous day's rate of Rs. 1,41,500.

The recent surge follows the highest recorded price for fine gold on June 4, 2024, which reached Rs. 1,42,700 per tola.

Additionally, the cost of silver witnessed a slight increase of Rs. 25 per tola, with the new price standing at Rs. 1,850 per tola, up from yesterday's Rs. 1,825 per tola.

International factors continue to play a significant role in shaping Nepal's precious metals market. Presently, the latest international gold rate stands at $2,368.30 per ounce, with silver priced at $30.39 per ounce in the global market. The surge in gold and silver prices in Nepal reflects ongoing shifts in both domestic and international economic landscapes, impacting traders and consumers alike.