Gold Hits All-Time High at Rs 240,400 per Tola

The price of gold reached an all-time high of Rs 240,400 per tola (11.66 grams) in the domestic market of Nepal on Monday, October 13, driven by surging international prices.

According to the Federation of Nepal Gold and Silver Dealers’ Association, gold rose by Rs 2,400 per tola from Sunday’s rate of Rs 238,000. The price of silver also climbed to Rs 3,220 per tola, up from Rs 3,125 a day earlier.

In the international market, gold is being traded at around $4,071 per ounce, continuing a sharp upward trend seen over the past week.

Earlier, on Thursday, October 9, gold had set a record high of Rs 239,200 per tola, before breaking that mark again this week. The recent rally follows a steady rise in international prices after the Dashain festival, with investors turning to gold as a safe-haven asset amid concerns over a potential U.S. government shutdown, according to AFP and other international media reports.

The Federation, which determines the daily market rate of gold and silver in Nepal based on global movements, said the continued increase reflects the international surge, as prices surpassed $4,000 per ounce for the first time last week.