Gold rises to Rs 326,100 per tola

KATHMANDU: Gold prices continued their upward climb in the domestic market on Monday, driven largely by surging international rates amid the ongoing Gulf crisis.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of gold increased by Rs 5,600 per tola (11.665 grams) to Rs 326,100 per tola on Monday. On Sunday, gold was traded at Rs 320,500 per tola after rising by Rs 5,600 compared to Friday.

In just two days, gold prices have jumped by Rs 11,200 per tola.

Last week, gold prices rose by Rs 10,700 between Monday and Thursday. However, the market saw a brief correction on Friday, when prices fell by Rs 500 per tola to Rs 314,900.

Traders say the recent spike reflects volatility in the global market following tensions in the Gulf region. As Nepal meets all of its gold demand through imports, fluctuations in international prices are directly reflected in the domestic market.

Silver prices also went up by Rs 35 per tola to reach Rs 6,020 on Monday.