April 7: The price of gold increased to an all-time high in the domestic market on Nepal on Sunday, rising by Rs 2,900 per tola (11.66 grams).

According to the Federation of Nepal Gold and Silver Dealers Association, the price of fine (hallmark) gold has been fixed at Rs 135,600 per tola on Sunday. It was traded at Rs 132,700 per tola on Friday.

Prior to this, the price of gold had set a new record last Thursday when it soared to Rs 134,000 per tola only to drop the next day.

Similarly, standard gold is being traded at Rs 134,950 per tola with an increase from Rs 132,050 per tola on Friday.

Moreover, the price of silver has increased as well. The price of silver increased by Rs 55 per tola, reaching Rs 1,670 per tola on Sunday.

The price of gold has been rising steadily in the past few weeks. The federation fixes the price of gold and silver based on the price in the international market.

The recent geopolitical tension due to the Israel’s offensive in Gaza and the Russia-Ukraine war have led to investors to invest in gold considering it as a safe haven in times of turmoil.