Gold Breaks All-Time High Record; Gains Rs 2,900 Per Tola On a Single Day to Trade at Rs 110,000

Gold prices make headlines once again as the value of gold hit an all-time high on March 19, 2023, i.e. today. Today's gain results from an Rs. 2900 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. 110,000 per tola. Yesterday, the rate was maintained at Rs. 107,100 per tola. Meanwhile, Tejabi gold is being traded at Rs. 109500 today. In contrast, the rate was maintained yesterday at Rs. 106,600 per tola.

The price of gold has risen by Rs. 9500 per tola in the past ten days. On 9th March, 2023 the price of Gold was Rs 1,00,500 per tola. 

Recently, the price of gold made an all-time high in the Nepalese market on 2nd February 2023. Fine gold traded at Rs. 107,500 per tola while tejabi gold was traded at Rs. 107,000 per tola that day.

On the sideline, silver has gained Rs. 35 per tola. The lustrous white metal is being traded in the local market today at Rs. 1345 per tola, compared to yesterday's closing rate of Rs. 1,310 per tola.

Due to the increase of gold prices in the international markets, the ripple effects of the same have impacted the domestic bullion market as well. As of Friday, gold was traded at 1,928.60 per ounce on the international markets. The current rate of gold in the international market has reached USD $1,989.30 while silver is being traded at $22.60 per ounce. Gold reached an all-time high of $2074.88 in August 2020.