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

The gold and silver market in Nepal has reached a historic milestone, with prices hitting unprecedented levels on July 16, 2024.

According to the Federation of Nepal Gold and Silver Dealers' Association (FENEGOSIDA), the current price for fine gold has soared to Rs. 1,47,800 per tola, a significant increase from the previous day's Rs. 1,46,900 per tola.

Similarly, Tejabi gold prices have surged to Rs. 147,100 per tola, marking a rise of Rs. 900 from yesterday's Rs. 1,46,200 per tola.

On July 12, 2024, the peak price for fine gold hit Rs. 1,46,700 per tola, highlighting the volatility in the precious metals market.

Meanwhile, silver prices have seen a decline of Rs. 10 per tola, with the new price now set at Rs. 1,875 per tola, down from yesterday's Rs. 1,885 per tola.

While domestic markets continue their upward trajectory, global economic factors remain influential. Currently, the latest international gold rate stands at $2,428.90 per ounce, with silver priced at $30.75 per ounce in the global market.