Precious Metals Witness Unprecedented Rally; Gold Soars by Rs 6,200 per Tola
Domestic gold and silver prices chart a steep upward trajectory following aggressive bullish trends in global markets.
The domestic bullion market experienced a massive rally on Thursday, Asar 18, as the prices of both gold and silver registered sharp increases. According to the Federation of Nepal Gold and Silver Dealers' Association, the price of fine gold surged by a staggering Rs 6,200 per tola, reaching a record high of Rs 283,500. In comparison, the precious yellow metal had traded at Rs 277,300 per tola on Wednesday. In tandem with gold, silver prices also witnessed a substantial upward movement. The price of silver rose by Rs 180 per tola, bringing the current market rate to Rs 4,450. On the previous day, silver was traded at Rs 4,270 per tola. Market analysts attribute this sudden and dramatic spike primarily to volatility and bullish trends in the international commodity markets.