Gold Price Surpasses Rs. 1 Lakh Per Tola in Nepalese Market, Trading Today at Rs. 1,01,900

The price of gold in the Nepalese market has crossed the Rs. 1 lakh ceiling per tola.

According to the official website of the Federation of Nepal Gold and Silver Dealers' Association, fine gold is being traded today at Rs. 1,01,900 per tola. This is the result of a gain of Rs. 2,000 on the price today. Last week, the rate was maintained at Rs. 99,900 per tola. Meanwhile, Tejabi gold is being traded at Rs. 1,01,400 today. In contrast, the rate was maintained last Friday at Rs. 99,400 per tola.

On the sideline, silver has gained Rs. 35 per tola. The lustrous white metal is being traded in the local market today at Rs. 1,415 per tola, compared to last week's closing rate of Rs. 1,380 per tola.

The price of gold has been increasing in the wake of rising geopolitical tensions between Ukraine and Russia. Tensions of increasing global inflation further fueled the gold price hike. As of the 11th day of Russia's invasion of Ukraine, economic and political uncertainties are escalating. Therefore, investors are flocking to safe havens and demanding more gold since it is deemed safer than other assets during times of economic turbulence.

The price hike is in the national market in sync with the international market. Gold is trading at $1,972.90 per ounce in the international market. This is a gain of $36.40 per ounce (1.88%) from last week's closing of $1,936.50 per ounce.