The gold market in Nepal saw an extraordinary surge, reaching an unprecedented all-time high on March 5, 2024. According to the Federation of Nepal Gold and Silver Dealers’ Association, fine gold recorded a remarkable single-day increase of Rs. 2,000, soaring to an extraordinary rate of Rs. 1,23,000 per tola. This surge surpassed the previous record set on December 28, 2023, when fine gold had reached Rs. 1,22,000 per tola.
Tejabi gold, another highly coveted variety, also witnessed a noteworthy rise, currently valued at Rs. 1,22,400 per tola, up from its previous rate of Rs. 1,20,400.
In a parallel trend, the price of silver also experienced an increase on the same day, with a gain of 35 rupees, bringing the current silver price to Rs. 1,445 per tola. In comparison, the silver price on the previous Monday was recorded at Rs. 1,410 per tola.
While the domestic market witnessed an upswing in prices, it’s noteworthy that the international market also plays a significant role. As of the latest update, the current gold rate stands at $2,114.80 per ounce. Internationally, silver is also experiencing positive momentum, with prices reaching $23.67 per ounce.