Sunday Market Update: Gold Jumps by Rs. 2,700, Silver Also Inches Up!
Gold and silver prices saw a significant upward trend in the Nepalese market this Sunday. Gold price surged by Rs. 2,700 per tola, while silver increased by Rs. 50 per tola, according to the Federation of Nepal Gold and Silver Dealers' Association.
The domestic bullion market opened for the week with a sharp rise in the prices of precious metals. According to the Federation of Nepal Gold and Silver Dealers' Association, fine gold is being traded today at Rs. 299,200 per tola, marking a steep climb from Friday’s closing price of Rs. 296,500. This single-day hike of Rs. 2,700 has pushed gold prices closer to the historic 3 lakh milestone. Similarly, silver prices followed the upward trend, increasing by Rs. 50 per tola. Silver is currently valued at Rs. 4,995 per tola, compared to Friday’s rate of Rs. 4,945. Market analysts attribute this local price hike to the ongoing fluctuations and strengthening rates in the international bullion market.