Silver Price Also Sees Increase
KATHMANDU—
The price of gold in the Nepali market reached an all-time high on Monday as it surged by Rs 2,500 per tola in a single day.
According to the Federation of Nepal Gold and Silver Dealers’ Associations, the price of Hallmark Gold (Chhapawal Sun) jumped from Rs 230,600 per tola on Sunday to Rs 233,100 per tola today, setting a new record.
Silver prices also saw an increase. The price of silver, which was fixed at Rs 2,930 per tola on Sunday, rose to Rs 2,960 per tola on Monday.
The sudden spike follows the end of the Dashain festival holidays and the subsequent reopening of markets amidst a backdrop of global economic volatility and a weakened Nepali rupee, factors that typically drive up the price of precious metals.