Gold on Steady Rise; Silver Follows Suit

Precious metals enjoyed an extensive bullish rise during the first international wave of Covid-19. This was a result of investors worldwide flocking to safe haven for their wealth when national currencies were weakening during the pandemic.

The local market in Nepal also saw spikes in the price of gold and silver. However, what goes up must come down in one form or another. The past recent months showed a correction in the price of precious metals. Nonetheless, the price of gold and silver has started to exhibit green signals again. Gold gained Rs. 1,900 per tola in the last two days and the yellow metal has been gaining consistently.

According to the official website of the Federation of Nepal Gold and Silver Dealers' Association, fine gold is being traded today at Rs. 89,900 per tola. Meanwhile, Tejabi gold is being traded at Rs. 89,450 per tola. Silver is being traded at Rs. 1,280 per tola, which is a Rs. 20 gain from the rate maintained yesterday.