Gold Breaks All-Time High Record Again; Gains Rs 1500 Per Tola On a Single Day to Trade at Rs 112,000

Gold prices make headlines once again as the value of gold hit an all-time high today. Today's gain results from an Rs. 1500 single-day gain from yesterday's price.

According to the official website of the Federation of Nepal Gold and Silver Dealers' Association, fine gold is being traded today at Rs. 112,000 per tola. Yesterday, the rate was maintained at Rs. 110,500 per tola. Meanwhile, Tejabi gold is being traded at Rs. 111,450 today. In contrast, the rate was maintained yesterday at Rs. 109,950 per tola.

The price of gold has risen by Rs. 3900 per tola in two days. Due to the budget for 2080/081 raising the tax rate on gold and silver from 10% to 15%, prices for both metals are fluctuating significantly. Earlier, the tax amount for 10 grams of gold and silver each was Rs. 8500 and Rs. 107 per tola which has now risen to around Rs. 12,750 and Rs. 160 per tola post-budget.

Recently, the price of gold made an all-time high in the Nepalese market on 4th May 2023. Fine gold traded at Rs. 111,800 per tola while tejabi gold was traded at Rs. 111,250 per tola that day.

On the sideline, silver has gained Rs. 20 per tola. The lustrous white metal is being traded in the local market today at Rs. 1,395 per tola, compared to yesterday's closing rate of Rs. 1,375 per tola.