Nepal's Gold Market on Fire: Historic Jump to Rs. 1,21,600 per Tola

The Nepalese gold market witnessed an unprecedented spike, reaching an all-time pinnacle on December 4, 2023. The Federation of Nepal Gold and Silver Dealers' Association reported an astounding single-day surge of Rs. 800, propelling fine gold to an extraordinary rate of Rs. 1,21,600 per tola.

Merely a day before, on December 3, 2023, fine gold had achieved a historic high of Rs. 1,20,800 per tola, marking a record at that time. Tejabi gold, another sought-after variant, also saw a significant uptick, currently valued at Rs. 1,21,000 per tola, up from its previous rate of Rs. 1,20,200.

In contrast to the gold rally, the price of silver remains steady at Rs. 1,545 per tola.

The global surge in gold prices, now at $2,088.00 per ounce, has significantly impacted the domestic bullion market. Simultaneously, silver is being exchanged at $25.47 per ounce on the international market.