Gold Prices Near All-Time High; Spikes Up by Rs. 800 Per Tola Today, What's the Rate of Silver?

The price of gold in the Nepalese market is near an all-time high.

The Federation of Nepal Gold and Silver Dealers' Association reported that fine gold is currently being traded at Rs. 113,500 per tola, a staggering increase of Rs. 800 in a single day from yesterday's price. This unprecedented surge follows a notable increase of Rs. 500 per tola on Wednesday.

Just a week ago, on 20th July 2023, gold prices had already soared to historic levels with fine gold commanding a price of Rs. 113,600 per tola and tejabi gold being traded at Rs. 113,050 per tola.

In addition to fine gold, Tejabi gold is currently being traded at Rs. 112,950 per tola, showing a notable increase from the rate maintained yesterday at Rs. 112,150 per tola. The ongoing surge in gold prices has also affected the silver market, with silver gaining Rs. 25 per tola today. The lustrous white metal is now being traded at Rs. 1,490 per tola, up from yesterday's rate of Rs. 1,465 per tola.

While the domestic market experiences a hike in prices, the international market also plays a significant role. As of the latest update, the current rate of gold stands at USD $1,974.70 per ounce. Silver is also experiencing positive momentum internationally, with prices reaching $24.96 per ounce.