Precious Metals Skyrocket in Nepali Market: Gold Jumps by NPR 5,000 Per Tola, Silver Crosses NPR 5,000 Mark
The domestic bullion market witnessed an unprecedented surge on Monday as gold prices soared by a massive NPR 5,000 per tola to hit NPR 298,200. Concurrently, silver prices climbed by NPR 120 per tola, pushing the trading rate to a high of NPR 5,015.
The Nepali precious metals market experienced an extraordinary rally on Monday, with both gold and silver hitting historic highs. According to the Federation of Nepal Gold and Silver Dealers' Association, fine gold recorded a single-day surge of five thousand rupees per tola on Monday, June 15. With this sharp increase, gold is currently trading at an unprecedented rate of NPR 298,200 per tola, up from Sunday's closing price of NPR 293,200. This milestone caps off a broader trend of continuous price hikes in recent days. In tandem with the gold rush, the price of silver has also demonstrated significant upward momentum. Silver advanced by NPR 120 per tola, bringing its fresh trading price to NPR 5,015 per tola, compared to the NPR 4,895 recorded in the previous session on Sunday.