Kathmandu – Gold price in Nepal has reached a new historic peak. On Monday, the price of gold increased sharply and was fixed at Rs 282,000 per tola, setting a new all-time record in the domestic market.
According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of gold rose by Rs 4,200 in a single day. This surge broke the previous record of Rs 278,000 per tola that was set last week.
Along with gold, silver prices also climbed to a new high. Silver is now being traded at Rs 5,810 per tola, reflecting strong momentum in the precious metals market.
According to market analysts, the rising international gold prices, demand for a safe haven, and the pressures on currencies are some factors that contributed to increased gold prices. Gold tends to go up in price when global uncertainties arise, forcing investors to seek alternative investments.
The record-high gold price in Nepal might affect local shoppers, particularly with the wedding and festival season approaching soon. The rise in prices might reduce the demand for gold among retail customers, but investors might be interested in buying gold.
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