Gold and Silver Prices Continue to Rise
KATHMANDU, April 10: The prices of gold and silver have continued to soar. The price of gold has increased by Rs 500 per tola in the domestic market on Wednesday.
Current Prices
The price of fine gold is set at Rs 136,800 per tola, according to the Federation of Nepal Gold and Silver Dealers’ Associations. Fine gold was traded at Rs 136,300 per tola on the previous day. Standard gold is being traded at Rs 136,150 per tola today.
Price Surge
In the current month alone, gold prices soared by Rs 11,000 per tola. This significant increase reflects the global economic uncertainty and geopolitical tensions that are driving investors towards safe-haven assets like gold.
Silver Prices on the Rise
Similarly, silver has also witnessed a hike in its price. From trading at Rs 1,685 per tola on Monday and Tuesday, the price surged by Rs 15 on Wednesday, reaching Rs 1,700 per tola. The increase in silver prices is often influenced by the movement of gold prices as they are both considered precious metals.
International Market Trends
In the international market, gold traded at $2,343.41 per ounce on Tuesday, rose to $2,358.99 per ounce on Wednesday. Silver stood at $28.27 per ounce on Wednesday, compared to $27.77 on Monday and Tuesday. The fluctuations in international prices are impacted by a variety of factors such as currency exchange rates, inflation, and global demand.
Long-Term Outlook
Over the span of a month, gold prices have increased by 9.17 percent or $197.85 per ounce, while silver prices have surged by $4.03 per ounce. This continuous upward trend in precious metal prices indicates a growing uncertainty among investors and a preference for assets that are traditionally considered as safe investments.
