The gold and silver market in Nepal has reached unprecedented heights, hitting a historic peak on May 19, 2024. The Federation of Nepal Gold and Silver Traders’ Association reported a significant surge in gold prices. Fine gold prices soared by Rs. 1,600 to an extraordinary Rs. 1,40,900 per tola, up from Rs. 1,39,300.
Similarly, the price of Tejabi gold rose to Rs. 1,40,200 per tola, an increase of Rs. 1,550 from the previous day’s rate of Rs. 1,38,650 per tola. This peak was first observed on May 16, 2024, when fine gold reached an all-time high of Rs. 1,40,000 per tola.
Silver prices also experienced a notable rise. The cost of silver increased by Rs. 110 per tola, setting the new price at Rs. 1,910 per tola, up from Rs. 1,800 per tola the previous day.
While domestic markets continue their upward trend, international factors play a significant role. Currently, the international gold rate stands at $2,414.40 per ounce, with silver priced at $31.48 per ounce in the global market.