Precious Metals saw intense price fluctuation during the pandemic; Gold Price rises Rs. 800 per tola in a single day

The price of gold saw a spike of Rs. 800 per tola today.

Ever since the pandemic hit, precious metals like gold and silver have shot through the roof. This is a result of investors clinging to a safe haven for their wealth at uncertain times like this.

According to the official website of the Federation of Nepal Gold and Silver Dealers' Association (FENEGOSIDA), fine gold is trading at Rs. 93,100 per tola today. Just yesterday, the price per tola was Rs. 92,300 for fine gold. Meanwhile, tejabi gold is trading at Rs. 92,650 per tola, compared to yesterday's rate of Rs. 91,850.

On the sideline, silver also gained 2.5% per tola today and is trading at Rs. 1,230 per tola.

In the last few years, gold and silver saw a massive price hike. Gold crossed the Rs. 1 lakh per tola barrier and went on to create new historic highs. While the price greatly fluctuated from thereon, if one looks at historic data, the two precious metals are still trading at significantly high levels.