Gold price went up by Rs 2,700 per tola this week

KATHMANDU: Gold and silver prices set new records in the domestic market this week.

The yellow metal recorded an all-time high price of Rs 134,000 per tola (11.664 grams) on Thursday. However, the price moderated to Rs 132,700 per tola on Friday.

According to the Federation of Nepali Gold and Silver Dealers Associations, trading began on Sunday with the yellow metal priced at Rs 130,000 per tola. The price climbed slightly to Rs 131,600 on Monday and moderated to Rs 131,200 a day later. Gold climbed to a record high of Rs 133,000 on Wednesday before further rising to Rs 134,000 on Thursday.

The price of silver increased by Rs 90 per tola this week. Trading began at Rs 1,525 per tola on Sunday and reached a record high of Rs 1,650 per tola on Thursday before moderating to Rs 1,615 per tola on Friday.

Analysts attribute the surge in gold prices to factors such as the policies of the US Federal Reserve, the strengthening of the US dollar, conflicts in different parts of the world and increased investment in gold by China, according to the federation.