Gold price of Nepal increased suddenly on Tuesday. The price went up by Rs 3,100 per tola. This pushed the value of gold to Rs 268,100 per tola in the local market.
The surge follows continued price gains in global markets. Last week, gold had risen by Rs 4,600 per tola. This shows strong demand for the precious metal.
Silver prices also climbed. They increased by Rs 195 per tola, reaching Rs 4,880 per tola.
Experts relate the increasing Gold Price of Nepal to worldwide factors. The recent geopolitical tensions have shifted investors towards gold as a safe investment. Higher international gold prices are now reflected in Nepal’s local market.
Historically, gold prices reached Rs 270,600 per tola earlier last season before slightly dropping. This recent jump shows renewed upward momentum.
Gold is generally perceived to be a safe-haven asset. When markets get a little uncertain, people tend to buy gold. This can definitely be true in Nepal, too, where gold is tied to cultural demand for weddings and festivals.
The higher prices of gold may discourage some purchasers to hold themselves on buying it. Others invest in speculation over gold while continuing to hope that the price will increase further.
Impact of the local marketplace
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