Gold rises Rs 2,300 to Rs 274,300 per tola; silver gains Rs 70 in domestic market

KATHMANDU: Gold prices increased in the domestic market today, with fine gold trading at Rs 274,300 per tola, according to Federation of Nepal Gold and Silver Dealers' Association (FENEGOSIDA).

Fine gold gained Rs 2,300 per tola from Sunday's rate of Rs 272,000 per tola. Silver is being traded at Rs 3,720 per tola, up Rs 70 per tola from Sunday's price of Rs 3,650.

In the international market, spot gold is trading at around $3,906 per troy ounce, while spot silver is trading at about $50.1 per troy ounce. Both precious metals have edged higher from the levels recorded on Sunday.

On Sunday, fine gold had fallen by Rs 8,300 per tola over a week to Rs 272,000, while silver had dropped by Rs 175 per tola to Rs 3,650.

Despite Monday's increase, fine gold remains below Rs 280,300 per tola recorded on October 30. Silver is also below that day's rate of Rs 3,825 per tola.

FENEGOSIDA publishes daily bullion rates based on movements in the international market and domestic demand conditions.

(One tola is equivalent to 11.66 grams, while one troy ounce is equivalent to 31.1035 grams.)