NewBiz Report

KATHMANDU, August 5

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

The Federation of Nepal Gold and Silver Dealers' Association reported that fine gold, which was priced at Rs 149,700 per tola (11.66 grams) on Sunday, surged to Rs 150,900 per tola.

In addition, the price of worked gold rose from Rs 149,200 per tola on Sunday to Rs 149,500 per tola.

In contrast, silver price remained unchanged at Rs 1,785 per tola on Monday.

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

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