KATHMANDU: The price of gold in the domestic market has reached a new record high, surging by Rs 2,400 per tola on Monday, according to the Federation of Nepal Gold and Silver Dealers’ Association.
With the latest rise, fine gold is now being traded at Rs 240,400 per tola, the highest rate ever recorded in Nepal. On Sunday, the precious metal was traded at Rs 238,000 per tola.
The Federation attributed the sharp increase to a rise in gold prices in the international market and fluctuations in the US dollar.
Meanwhile, the price of silver has also climbed. Silver rose by Rs 95 per tola and is now being traded at Rs 3,220 per tola.
Traders say that the sustained upward trend in gold prices has subdued demand in the local market, as investors and jewelers await signs of price stabilization.
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