Gold price goes up by Rs 10,400 to Rs 295,100 per tola, silver at Rs 5,920

KATHMANDU: There has been a sharp rise in gold prices in the local market, with the price of one tola of gold increasing by Rs 10,400 compared to Tuesday.

According to the Federation of Nepal Gold and Silver Dealers Association (FENEGOSIDA), the price of one tola of fine gold is set at Rs 295,100 today, while the price of the same quantity of silver is set at Rs 5,920.

On Tuesday, one tola of fine gold was set at Rs 284,700 and silver at Rs 5,880. Last Sunday, one tola of gold traded at Rs 277,800 and silver at Rs 5,625. On Monday, one tola of gold was bought and sold at Rs 282,000 and silver at Rs 5,810.

International media report gold is trading at $4,740 per ounce and silver at $95 per ounce in the global market today.

Economic analysts say the prices of gold and silver have risen due to growing uncertainty in the global economy, inflation, and geopolitical tensions, which have boosted demand for safe-haven investments.