Gold and Silver Prices Reach Record Highs in Nepal (Dec 22)

The market prices for gold and silver reached unprecedented levels in Nepal on Monday, according to the Federation of Nepal Gold and Silver Dealers’ Association. Fine gold is currently valued at 261,700 rupees per tola, marking the highest rate ever recorded in the domestic market. This new peak follows a significant single-day increase of 3,400 rupees from the previous trading session.

This surge comes exactly one week after the previous record was established last Monday. At that time, gold was traded at 260,700 rupees per tola. The rapid escalation in prices reflects a volatile trend that has seen multiple records broken within a short period as demand and international market factors continue to influence local rates.

Silver prices have also reached a historic milestone, increasing by 130 rupees per tola in a single day. The current market price for silver is set at 4,235 rupees per tola, rising from the previous rate of 4,105 rupees. Industry experts note that silver has been consistently setting new price records over the past several days.

The domestic price hike aligns with a global upward trend in precious metal valuations. In international trading, gold reached 4,397 USD per ounce, while silver climbed to 69.37 USD per ounce. These global figures represent all-time highs for both metals, directly impacting the pricing structures set by the Federation in Nepal.

Market analysts suggest that the continued rise is driven by shifts in the global economy and increased investor interest in precious metals. Local dealers remain watchful of international market fluctuations, as these determine the daily rates issued for the Nepali market. The current trend indicates sustained high valuations for the foreseeable future.