Gold Prices Surge by Rs 2,300

The price of gold has seen a significant jump of Rs 2,300 per tola in the domestic market as of today, according to the Federation of Nepal Gold and Silver Dealers’ Association. The new price for a tola (approximately 11.66 grams) of hallmark gold now stands at Rs 137,900, up from Rs 135,600 on Thursday.

The price for worked gold, which refers to gold that is ready for jewellery making, also increased by Rs 2,300, reaching Rs 137,250 per tola today from Rs 134,950 on the previous day.

In addition to gold, silver prices have also seen a rise. The cost per tola of silver has increased by Rs 50, settling at Rs 1,735 today compared to Rs 1,685 on Thursday.

The sharp rise in precious metal prices could impact various sectors, including jewellery businesses and retail consumers, potentially affecting the buying behaviour ahead of the upcoming festive seasons.

The Federation has not provided specific reasons for the increase in prices but global market trends and local demand factors often influence such changes. Investors and consumers alike are advised to stay informed about the market as fluctuations in prices are common.