KATHMANDU: The price of gold has increased by Rs 1,000 per tola (11.66 grams) in the domestic market of Nepal to reach an all-time high record on Friday.

According to the Federation of Nepal Gold and Silver Dealers Association, the price of hallmark gold has been fixed at Rs 145,000 per tola on Friday. It was traded at Rs 144,000 on Thursday.    

Similarly, the price of worked gold is being fixed at RS 144,300 per tola Friday against Rs 143,300 on Thursday.

The price of gold has been rising steadily in the past few months. 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.

Likewise, the price of silver has increased by Rs 50 per tola and is being traded at Rs 1,900 on Friday. It was traded at Rs 1,850 on Thursday.