Friday Market Update: Gold Hits Rs 292,000 as Silver Climbs to Rs 4,840
The Nepalese bullion market witnessed a massive rally on Friday, with fine gold skyrocketing by Rs 5,300 per tola to trade at Rs 292,000, while silver jumped by Rs 190 per tola.
The domestic bullion market in Nepal witnessed a significant surge on Friday, with both gold and silver prices registering sharp increases. According to the Federation of Nepal Gold and Silver Dealers' Association, the price of fine gold skyrocketed by Rs 5,300 per tola, reaching a high of Rs 292,000 per tola. This marks a sharp recovery from Thursday's trading session, where the precious metal had closed at Rs 286,700 per tola. In tandem with the gold rally, silver prices also climbed by Rs 190 per tola on Friday, bringing its market rate to Rs 4,840 per tola compared to Thursday's closing price of Rs 4,650 per tola. Market analysts attribute this sudden double-digit percentage bounce to volatility in international commodity markets, directly influencing domestic retail pricing indicators in Nepal.