The price of gold has set a new record in the domestic market of Nepal.

According to the state-owned national news agency RSS, the price of gold has surged by Rs 4,000 on Friday to reach an all-time high of Rs 174,500 per tola (11.66 grams). On Thursday, gold was traded at Rs 170,500 per tola in the local market. Similarly, the price of silver has been fixed at Rs 2,050 per tola on Friday.

Dharmasundar Bajracharya, First Vice President of the Federation of Nepal Gold and Silver Dealers Association, attributed this rise to external factors, notably the appreciation of the US dollar and international political developments. He noted that the local market's peak aligns with global market trends.

"The price has increased due to the appreciation of the US dollar, international political developments, etc. The local market has reached its highest price ever after making adjustment to the price in the international market," he told RSS.

In the international market, gold is being traded at around US$ 2,982 per ounce as of Friday. Notably, gold had previously reached a record high of US$ 2,956.15 on February 24, 2025, driven by trade concerns and tariff uncertainties, Reuters reported.

Meanwhile, the highest recorded price of gold in the Nepali market prior to this was Rs 171,000 per tola on February 20, 2025.