The price of gold in Nepal surged to a record high of Rs 187,000 per tola (11.66 grams) on Wednesday, April 16, according to the Federation of Nepal Gold and Silver Dealers' Association. This marks a Rs 2,700 increase from Tuesday, when gold was traded at Rs 184,300 per tola.
Prior to this, gold had set a new record of Rs 186,000 per tola on Sunday, April 13, before dropping on Tuesday. The current rally follows a sharp rise of Rs 5,700 last Thursday, which lifted the price to Rs 181,100 per tola. The upward trend continued on Friday, with gold climbing to Rs 185,000 per tola, setting a new benchmark before breaking it again on Sunday and now Wednesday.
The Federation determines local gold and silver prices based on international rates. Gold is beig traded at around US$ 3,285 per ounce on Wednesday.
Analysts attribute the rising gold prices to escalating geopolitical tensions, including the Israel-Gaza conflict, the Russia-Ukraine war, and the ongoing trade war launched by US President Donald Trump.
Meanwhile, the price of silver also rose by Rs 10 on Wednesday to reach Rs 1,955 per tola compared to Tuesday.
