Gold price surges to Rs 311,100 per tola; silver to Rs 5,345

KATHMANDU: Price of gold has been set at Rs 311,100 per tola and silver at Rs 5,345 per tola today, Federation of Nepal Gold and Silver Dealers' Association (FENEGOSIDA) said.

FENEGOSIDA said the precious metals climbed over the past week. On Friday, gold traded at Rs 290,600 per tola and silver at Rs 5,040 per tola. On Thursday, gold was quoted at Rs 285,000 per tola and silver at Rs 4,865 per tola.

Meanwhile, the federal government’s annual budget for fiscal year 2026/27, unveiled by Finance Minister Dr Swarnim Wagle on Friday, includes several measures affecting the gold, silver and jewellery sectors. 

Among the measures, the budget raises the customs duty on gold imports to 20% to reduce cross-border price gaps and encourage imports through formal banking channels. The government has removed the 2% luxury tax previously applied to gold transactions. Customs duty on diamond imports has been increased to 5% per carat from 1%. A new 0.5% skill promotion fee will be collected at the retail point on the sale of all gold, silver and jewellery items to support local manufacturing and artisan training.

Market participants and analysts will likely monitor how these policy changes affect import routes, retail pricing and industry margins, while noting that short-term domestic price swings can result from a range of factors, including global bullion markets, currency movements and local demand.