KATHMANDU: The price of gold has set an all-time high record and is being traded at Rs 142,200 per tola (11.66 grams) in the domestic market on Friday.    

According to the Federation of Nepal Gold and Silver Dealers Association, the price of hallmark gold has increased by Rs 1,700 per tola compared to the previous trading day. The federation has fixed the price of hallmark gold at Rs 142,200 on Friday against Rs 140,500 per tola on Thursday.    

Similarly, worked gold is being traded at Rs 141,500 per tola on Friday against Rs 139,800 on Thursday.

Likewise, the price of silver has decreased by Rs 25 per tola. The federation has fixed the price of silver at Rs 1,875 per tola Friday. It was Rs 1,900 per tola on Thursday.    

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.