Gold Price Hits Record High in Nepal, Surges by Rs 2,400 per Tola

Gold prices in Nepal reached a new all-time high on Monday, rising by Rs 2,400 per tola, reflecting a sharp increase in global demand and market volatility. Jewelers and traders reported that the price surge has shaken the domestic gold market, affecting both investors and consumers.

Current Gold Rates

• Per tola: Increased by Rs 2,400, setting a new record.
  
• Per gram: Price also surged proportionally, impacting small-scale buyers.
  

Factors Behind the Surge

1. Global Market Trends: Gold prices worldwide have been climbing due to economic uncertainty, inflation concerns, and currency fluctuations.
   
2. Demand Spike: Increased demand in Nepal for investment purposes and festivals has contributed to the upward pressure.
   
3. Currency Depreciation: A slight depreciation of the Nepali rupee against the US dollar has also made gold more expensive domestically.
   

Impact on Consumers

• Jewelry buyers may face higher costs ahead of upcoming festivals.
  
• Investors in gold may benefit from increased valuations, though volatility remains a concern.
  
• Small-scale traders are adjusting rates daily to cope with rapid price changes.
  

Expert Opinions

Market analysts suggest that gold prices may continue to fluctuate in the near term, influenced by global economic indicators, central bank policies, and geopolitical events. They advise buyers and investors to stay informed and consider long-term strategies rather than reacting to daily swings.

Conclusion: Monday’s historic surge in gold prices underscores the dynamic nature of the global and domestic markets. For consumers and investors alike, understanding market trends and planning purchases wisely is crucial as gold continues to serve both as a hedge against uncertainty and a symbol of wealth in Nepal.