Gold prices in Nepal climbed to a fresh record on Tuesday, September 16, with the precious metal trading at Rs 217,100 per tola (11.66 grams), up Rs 1,900 on Monday when it fetched Rs 215,200, according to the Federation of Nepal Gold and Silver Dealers’ Association.
The surge reflects a global rally, with the price of gold in the international market reaching USD 3,683 per ounce on Tuesday. Earlier this month, Nepal’s gold price had already set multiple records, hitting Rs 207,900 per tola on September 4 with a record breaking rise for four consecutive days.
International markets have seen similar highs. Gold touched USD 3,501.59 per ounce in Asian trading two weeks ago, surpassing the previous April peak of USD 3,500.10.
Former president of the Federation, Manik Ratna Shakya, said the increase is driven mainly by global political and economic uncertainties rather than domestic demand. The Federation sets local prices in line with international market movements. One ounce of gold equals 31.1 grams.
Meanwhile, the price of silver rose by Rs 20 to Rs 2,595 per tola on Tuesday.
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