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Gold prices have been breaking records in the international as well as national markets for the past four to five months. In the beginning month of this fiscal year, the price of gold per tola (11.66 grams) surpassed Rs 150,000. Trading at Rs 152,600 per tola, a new record has been set in the domestic market on Sunday. 

This is an all time high. Will the record remain? Analysts claim it might even go higher. Improvements seen in US economy and the share market have affected the prices of gold, says Kiran Bhai Bajracharya, general secretary of Federation of Nepal Gold and Silver Dealers Association (FENEGOSIDA)

Why are prices escalating?

Compared to the international market, Nepali markets seem to be experiencing higher increases. Due to the increase in customs on gold imports from 15 percent to 20 percent this fiscal year, gold prices are soaring, says Manik Ratna Shakya, former chairperson of FENEGOSIDA. Appreciation of the American dollar, as well as rise in taxes, have led to higher gold prices in Nepal compared to international markets. Traded at $1,288 per ounce five years ago, gold price in the international market today has almost doubled. In the domestic market, however, the price has increased by around two and a half times. 

“The reason for increasing gold prices in Nepal is the high customs rate. This increases the cost.” says Shakya. “A few years ago, Rs 10,000 was paid in customs duty. Now, the customs charge Rs 28,000,  making gold more expensive. Along with that, the dollar exchange rate has also been increasing. As the value of the dollar increases, so does the price of gold.” 

Looking at previous patterns, Shakya analyzes the price to rise further. Prolonged Ukraine-Russia and Israel-Palestine wars have also contributed to the increase in gold price, as many countries consider gold a secure and rewarding asset.

How much gold do countries have?

As gold is valued all around the world, all countries want to secure it as a source of wealth. According to the World Gold Council, in recent times, China, Germany, and India rank highest in the purchase of gold. Although America currently owns more than eight thousand tons of gold, its lead has diminished in the past decade, with China holding more than 20,000 tons of gold. 

The price of gold has dropped by Rs 300 per tola in the domestic market on Monday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 152, 300 per tola today. It was traded at Rs 152, 600 per tola on Thursday.

The silver is being traded at Rs 1,810 per tola today.

The price of gold has increased by Rs 3, 000 per tola in the domestic market on Sunday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 152, 600 per tola today. It was traded at Rs 149, 600 per tola on Friday.

Similarly, the price of silver has increased by Rs 50 and is being traded at Rs 1,810 per tola today.

The price of gold has dropped by Rs 900 per tola in the domestic market on Friday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 149, 600 per tola today. It was traded at Rs 150, 500 per tola on Thursday.

The price of silver, however, has increased by Rs 20 and is being traded at Rs 1,760 per tola today.

The gold is being traded at Rs 150, 500 per tola in the domestic market on Thursday.

Similarly, the silver is being traded at Rs 1,740 per tola today, according to the Federation of Nepal Gold and Silver Dealers’ Association.

The price of gold has dropped by Rs 300 per tola in the domestic market on Wednesday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 150, 500 per tola today. It was traded at Rs 150, 800 per tola on Tuesday.

Similarly, the price of silver has dropped by Rs 5 and is being traded at Rs 1,735 per tola today.

The price of gold has increased by Rs 2, 100 per tola in the domestic market on Tuesday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 150, 800 per tola today.

Similarly, the price of silver has increased by Rs 25 and is being traded at Rs 1,740 per tola today.

The price of gold has dropped by Rs 100 per tola in the domestic market on Monday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 148, 700 per tola today. It was traded at Rs 148, 800 per tola on Sunday.

Similarly, tejabi gold is being traded at Rs 148, 000 per tola.

Meanwhile, the silver is being traded at Rs 1,715 per tola today.

The price of gold has increased by Rs 700 per tola in the domestic market on Sunday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 148, 800 per tola today. It was traded at Rs 148, 100 per tola on Friday.

Similarly, the price of silver has increased by Rs 10 and is being traded at Rs 1,720 per tola today.

The price of gold has increased by Rs 1, 500 per tola in the domestic market on Friday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 148, 100 per tola today. It was traded at Rs 146, 600 per tola on Thursday.

Similarly, the price of silver has increased by Rs 40 and is being traded at Rs 1,730 per tola today.

The price of gold has increased by Rs 300 per tola in the domestic market on Thursday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 146, 600 per tola today. It was traded at Rs 146, 300 per tola on Wednesday.

The price of silver, however, has increased by Rs 12 and is being traded at Rs 1,690 per tola today.

The price of gold has dropped by Rs 1,400 per tola in the domestic market on Wednesday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 146, 300 per tola today. It was traded at Rs 147, 700 per tola on Tuesday.

Meanwhile, the price of silver has dropped by Rs 15 and is being traded at Rs 1,710 per tola today.

The price of gold has dropped by Rs 2, 300 per tola in the domestic market on Tuesday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 147, 700 per tola today. It was traded at Rs 150, 000 per tola on Monday.

Similarly, tejabi gold is being traded at Rs 147, 000 per tola.

Meanwhile, the price of silver has dropped by Rs 65 and is being traded at Rs 1,725 per tola today.

The price of gold reached an all-time high in the domestic market on Monday.

According to the Federation of Gold and Silver Dealers' Association, the precious yellow metal is being traded at Rs 150,000 per tola (11.66 grams).

It was traded at Rs 149,700 per tola on Sunday.

Similarly, the silver is being traded at Rs 1,895 per tola today.

The price of gold has dropped by Rs 200 per tola in the domestic market on Sunday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 149, 700 per tola today. It was traded at Rs 149, 900 per tola on Friday.

Similarly, tejabi gold is being traded at Rs 137, 725 per tola. It was traded at Rs 149, 400 per tola.

Meanwhile, the price of silver has dropped by Rs 10 and is being traded at Rs 1, 985 per tola today.

The price of gold reached an all-time high in the domestic market on Friday.

According to the Federation of Gold and Silver Dealers' Association, the precious yellow metal is being traded at Rs 149,900 per tola (11.66 grams).

The gold price had reached Rs 149,800 per tola on July 17. It was traded at Rs 149,400 per tola on Thursday.

Similarly, the silver is being traded at Rs 1,795 per tola today against Rs 1,750 on Thursday.