Gold prices in Nepal have surged to an all-time high, mirroring the rising trend in the international bullion market. The sharp increase has pushed domestic gold prices to unprecedented levels, affecting both traders and consumers ahead of the festive season.

According to the Federation of Gold and Silver Dealers’ Association (FENEGOSIDA), fine gold is being traded at Rs 235,960 per tola (11.66 grams) on Tuesday. This marks a significant jump of Rs 2,860 from Monday’s price of Rs 233,100 per tola.

The rise in the domestic market follows a global upswing in gold prices, which have climbed to USD 3,965 per ounce in international trading. Analysts attribute the spike to multiple factors, including global economic uncertainties, geopolitical tensions, and expectations of lower interest rates in major economies, all of which typically drive investors toward safer assets like gold.

Similarly, the price of silver has also increased, reaching Rs 2,930 per tola today.

Local traders note that the continued appreciation of gold prices has slowed down jewelry sales in recent weeks, as buyers await potential corrections. However, investors and bullion holders have benefited from the rally, with gold once again proving to be a strong hedge against inflation and currency volatility.

Market observers suggest that if the global economic situation remains unstable, the gold price trend may continue upward, further influencing the Nepali bullion market in the coming days.