Gold price jumps 80% in just a year

KATHMANDU: The price of gold has increased by nearly 80% over the past year, reaching a new record of Rs 270,600 per tola (11.664 grams) in the domestic market on Sunday.

The yellow metal was traded at Rs 150,700 per tola on December 28 last year.

Prices have also increased significantly in recent weeks. On December 1, gold was priced at Rs 253,300 per tola, meaning gold has gained nearly 6% percent in less than a month.

The surge in domestic prices reflects a sharp rally in the international market. Gold climbed to a record $4,549 per ounce in the international market on Friday, amid heightened global uncertainty and strong demand for safe-haven assets.

Since Nepal meets its entire gold demand through imports, the local market is highly sensitive to global price movements. The impact has been further amplified by the appreciation of the US dollar against the Nepali rupee, as a weaker local currency increases import costs.