KATHMANDU, March 6: Gold prices in the domestic market reached a new record high on Wednesday, with a surge of Rs 500 per tola. The Federation of Nepal Gold and Silver Dealers’ Associations reported that the price of fine gold was set at Rs 123,500 per tola, while standard gold was priced at Rs 122,900 per tola.
This increase in gold prices can be attributed to various factors such as global economic uncertainty, inflation fears, and a weaker Nepali currency. Investors often turn to gold as a safe haven during times of economic turmoil, which could explain the surge in prices.
In contrast, the price of silver decreased by Rs 5 per tola compared to the previous trading day, with the current price set at Rs 1,440 per tola. Silver prices are typically more volatile than gold prices, as they are influenced by factors such as industrial demand and market speculation.
Overall, the precious metals market in Nepal is experiencing fluctuations due to global and local economic conditions. Investors should closely monitor these trends to make informed decisions about their investments in gold and silver.
