The price of gold has continued to climb, reaching a new high of Rs 126,000 per tola in Nepal. This surge is part of a trend that has seen an increase of Rs 8,300 per tola in just the current month of Falgun. The price of gold has been steadily rising, with minor fluctuations, from Rs 117,700 per tola at the beginning of the month. Standard gold is now trading at Rs 125,400 per tola.
Silver prices have also increased, reaching Rs 1,475 per tola. In the international market, gold is trading at $2178.8 per ounce, while silver is priced at $24.31 per ounce. This signifies a global trend of increasing precious metal prices.
The rise in gold prices can be attributed to a variety of factors, including economic uncertainty, geopolitical tensions, and a weak US dollar. Investors often turn to gold as a safe haven during times of instability, driving up the demand and subsequently the price. Additionally, with central banks around the world continuing to inject liquidity into the market, inflation concerns have also contributed to the rise in gold prices.
As the global economy continues to navigate through the challenges brought about by the COVID-19 pandemic, it is likely that the demand for gold as a store of value will remain strong. This could lead to further price increases in the coming months, making gold an attractive investment option for those looking to hedge against market volatility.
