Himal Press 
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KATHMANDU: Gold prices surged to an all-time high of Rs 278,000 per tola (11.664 grams) in the domestic market on Wednesday.
According to the Federation of Nepal Gold and Silver Dealers’ Associations, the price of hallmark gold increased by Rs 1,500 per tola compared to Rs 276,500 per tola on Tuesday.
Silver prices rose as well. Silver, which was traded at Rs 5,340 per tola on Tuesday, increased to Rs 5,655 per tola on Wednesday.
The surge in domestic prices followed a sharp rise in the international bullion market. According to Reuters, spot gold climbed 1% to $4,632.03 per ounce by 0715 GMT on Wednesday, after touching a record high of $4,639.42 per ounce earlier in the session. Silver also crossed the $90 per ounce mark for the first time.
As Nepal meets all its bullion demands through imports, fluctuations in international prices are directly reflected in the domestic market.
