April 12: The price of gold continues to rise in the domestic market of Nepal with an increase of Rs 2,400 per tola (11.66 grams) on Friday.

According to the Federation of Nepal Gold and Silver Dealers Association, the price of the precious yellow metal has reached an all-time high of Rs 139,000 per tola with the latest increment.

The federation wrote on its website that fine gold (hallmark gold) is being traded at Rs 139,000 per tola on Friday, up from Rs 136,600 per tola on Thursday.

Similarly, standard gold (worked gold) is being traded at Rs 138,350 per tola on Friday against Rs 135,950 per tola on the previous day.

The price of gold has been rising steadily in the past few weeks. In the Nepali month of Chaitra (mid-March to mid-April), the price of gold has increased eleven times in the domestic market of Nepal. 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.

Meanwhile, the price of silver also increased by Rs 50 per tola to reach Rs 1,750 per tola on Friday.