Gold, silver prices hit record highs at Rs 301,400 and Rs 6,190 per tola

KATHMANDU: Gold and silver prices have hit new records in the local market today. Federation of Nepal Gold and Silver Dealers' Association (FENEGOSIDA) has fixed the price of one tola of fine gold at Rs 301,400 and one tola of silver at Rs 6,190.

The rise in prices represents an increase of Rs 9,200 per tola for gold and Rs 320 for silver compared with Thursday.

Internationally, gold is trading at $4,960 an ounce today, while silver is quoted at $98 an ounce, according to international media reports.

Price movements over the past week show a steady climb: last Wednesday, one tola of fine gold was Rs 295,100 and silver Rs 5,920; on Tuesday, gold was Rs 284,700 and silver Rs 5,880; last Sunday, gold traded at Rs 277,800 and silver at Rs 5,625; and on Monday gold was bought and sold at Rs 282,000 and silver at Rs 5,810.

Market watchers attributed the sharp uptick to international trends and local demand, noting that sustained gains over several sessions have pushed domestic rates to fresh highs.