Gold Breaks Previous All-Time High Record; Gains Rs 500 Per Tola to Trade at Rs 113,700

The price of gold in the local market reached an all-time high, surging by Rs. 500 per tola. According to the official data from the Federation of Nepal Gold and Silver Dealers' Association, fine gold is now being traded at an unprecedented rate of Rs. 113,700 per tola. Just yesterday, this precious metal was priced at Rs. 113,200 per tola. Tejabi gold, too, saw a substantial increase and is currently being traded at Rs. 113,150, up from the previous rate of Rs. 112,650 per tola.

The Nepalese market last witnessed such record-breaking prices for gold on July 20, when fine gold was valued at Rs. 113,600 per tola and Tejabi gold at Rs. 113,050 per tola.

On the flip side, the silver market took a minor hit, with the price of the lustrous white metal decreasing by Rs. 15 per tola. As of today, silver is trading at Rs. 1,395 per tola, compared to yesterday's closing rate of Rs. 1,410 per tola.

It's important to note that these significant price fluctuations in the local market are in line with international trends. Currently, the global rate for gold stands at USD $1,946.80 per ounce, while silver is being traded at $22.90 per ounce.