Gold prices in Nepal have surged to a historic high, setting a new record within a month. On Sunday, the price of gold increased by Rs 1,000 per tola in a single day, marking the highest price ever recorded in the Nepali market.
The Federation of Nepal Gold and Silver Dealers’ Association has set the price of gold at Rs 145,400 per tola for the day. This surpasses the previous record of NPR 145,000 per tola, which was set on June 7.
Despite the record-breaking prices in Nepal, the international market has not seen similar peaks. The highest international price was recorded on May 20 at USD 2,426 per ounce. As of today, the international price stands at USD 2,391 per ounce. The surge in Nepali gold prices was influenced by the budget announcement on May 28, which increased customs duty on gold, breaking all previous records by June 7.
In addition to gold, silver prices have also seen an increase. On Sunday, the price of silver rose by Rs 20 per tola. The Federation of Nepal Gold and Silver Dealers’ Association reported that silver, which was priced at Rs 1,870 per tola on Friday, has now reached Rs 1,890 per tola.
