Gold and Silver Hit New Record Highs in Local Market

Gold and silver prices have been going up steadily in the local market for the past few days, reaching new record highs again today.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of hallmark gold has climbed to Rs 269,300 per tola, while silver is selling at Rs 4,585 per tola. These are the highest prices ever recorded for both metals in Nepal.

On Wednesday, gold was priced at Rs 268,100 per tola and silver at Rs 4,420. Prices fell slightly on Thursday, with gold dropping to Rs 267,500 and silver to Rs 4,400 per tola. However, both metals rose sharply again today.
Experts say the rise in prices is mainly due to the strong US dollar, which has pushed up gold and silver prices in the local market.

In the international market, gold is trading at around USD 4,500 per ounce, while silver is priced at about USD 75 per ounce, according to international media reports.