Gold Price Hits New Record in Nepal

Today, on July 7, gold prices in Nepal have set a new record. According to the Nepal Gold and Silver Dealers’ Association, the price of hallmark gold has increased by NPR 1,000 per tola, reaching NPR 145,400. Similarly, the price of worked gold has been set at NPR 144,700 per tola.

Previous Record:

The last record was set on June 8, when the price of hallmark gold was NPR 145,000 per tola and worked gold was priced at NPR 144,300 per tola.

Reasons for the Increase in Gold Prices:

The rise in gold prices in the global market has been observed over the past few days. Several factors contribute to this increase:

- Economic recession

- Stronger dollar

- Rising inflation

- Heavy gold purchases and accumulation by countries like China

These factors are believed to have increased demand. Other investors are also attracted to gold as it is easy to accumulate and considered a safe investment option.

Impact on the International Market:

The rise in international market prices has a direct impact on the Nepali market as well.

Silver Price:

The price of silver has also increased by NPR 20 per tola, reaching NPR 1,890. Previously, on Friday, the price of silver was NPR 1,870 per tola.

International Market Prices for Gold and Silver:

- Gold: USD 2,262.64 per ounce

- Silver: USD 330.55 per ounce