Gold price increases by Rs. 2,000 per tola in a day

By A Staff Reporter,Kathmandu, Mar. 4:The prices of gold and silver have increased noticeably on Sunday. The price of gold increased by Rs. 2,000 per tola in the domestic market on Sunday compared to its price on Friday.

According to the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA), the price of gold increased to Rs. 121,000 per tola (11.664 grams) on Sunday from Rs. 119,000 on Friday. The price of silver also increased by Rs. 20 per tola to Rs. 1,410 in the local market today. 

The price of gold has increased in the local market due to an increase in its price in the international market, said Tej Ratna Shakya, a gold trader and a special member of the FENEGOSIDA. Fluctuations in gold prices in the international market have impacted the domestic bullion market as well, he said.

The price of gold had dropped to Rs. 116,000 per tola after setting a record of Rs. 122,000 per tola on December 28, 2023. The price once again increased in the local market significantly on Sunday.

Gold price in the international market has increased by US$ 37 per ounce to US$ 2,083 today, he said. The price of gold was USD 2,046 per ounce in the international market on Friday. The price of gold has increased in the international market after the demand for gold increased in the international market as a secure investment.

According to him, international analysts have said that the price of gold increased due to the report on the rate of price published by the US Department of Commerce. The price of gold has been fluctuating significantly in the international market for the past few months. 

According to Shakya, looking at the current situation of the price of gold in the international market, the price of gold in the international market will increase further, which will have a direct impact on Nepal as well.