Gold price hits historic Rs. 3 lakh in Nepal
The price jumped by Rs. 9,200 in a single day, reversing Thursday’s decline of Rs. 2,900 when gold was traded at Rs. 2,92,200 per tola.
KATHMANDU: Nepal’s gold and silver market reached an all-time high on Friday as gold prices in the domestic market surged past Rs. 3 lakh per tola for the first time.
According to the Nepal Gold and Silver Traders’ Association, the price of Chhapawal gold was fixed at Rs. 3,01,400 per tola on Friday, marking the highest level in the history of the Nepali gold market.
The price jumped by Rs. 9,200 in a single day, reversing Thursday’s decline of Rs. 2,900 when gold was traded at Rs. 2,92,200 per tola.
The sudden surge is attributed to global political and economic uncertainties that have sharply increased both demand and prices in the international market.
Association’s First Vice President, Dharmasundar Bajracharya, noted that the international gold price has risen above USD 4,950 per ounce.
Silver prices also saw a significant increase, with silver trading at Rs. 6,190 per tola, up Rs. 320 from Thursday’s Rs. 5,870.
