Record-breaking Surge in Gold Prices Grips Nepal

Gold prices in Nepal have reached unprecedented levels, hitting a historic high on Sunday at Rs 120,800 per tola, according to the Federation of Nepal Gold and Silver Dealers Associations. The surge in the international gold market has significantly impacted domestic rates, establishing a new record.

Last Thursday, gold prices were recorded at Rs 119,300 per tola, experiencing a slight dip to Rs 119,000 on Friday before skyrocketing to the record-breaking figure over the weekend. The fluctuations in gold prices have been closely monitored by investors and traders, with the market showcasing notable volatility.

Experts attribute the surge in gold prices to various factors, including geopolitical tensions, economic uncertainties, and inflation concerns. As investors seek safe-haven assets amid global uncertainties, gold has emerged as a preferred choice, driving demand and subsequently pushing prices to new highs.

The Federation of Nepal Gold and Silver Dealers Associations highlighted the correlation between the international and domestic markets, emphasizing the significant impact of global trends on Nepal’s precious metal prices.