Gold price crosses Rs. 300,000 per tola

Kathmandu, Jan. 24: The price of gold in Nepal surged to a historic high on Friday, crossing the eye-popping mark of Rs. 300,000 per tola for the first time, reflecting strong spillover effects from soaring international prices and rising global economic uncertainty.

According to the Federation of Nepal Gold and Silver Dealers’ Association (FNGSDA), gold was traded at Rs. 301,400 per tola on Friday, marking the highest price ever recorded in the local market. 

The precious metal witnessed a massive single-day jump of Rs. 9,200 per tola, from Rs. 292,200 per tola on Thursday.

The price volatility has been intense throughout the week. On Wednesday, gold jumped by Rs. 10,400 per tola, reaching Rs. 295,100, before declining by Rs. 2,900 per tola on Thursday. 

Friday’s sharp rebound has once again pushed prices to unprecedented levels.

Silver prices also followed the upward trend. The price of silver increased by Rs. 320 per tola, reaching Rs. 6,190 per tola in the domestic market.

Market analyst Tej Ratna Shakya said the surge in Nepal’s gold price is closely linked to developments in the global market.

“When there is economic uncertainty—such as political conflicts and instability—investors tend to move their money into gold, which is widely considered a safe-haven asset. This increases global demand and pushes prices higher, which directly impacts Nepal,” Shakya said.

He said that escalating geopolitical tensions among global superpowers, along with growing uncertainty in international financial markets, have intensified investor attraction toward precious metals.

Shakya also pointed to recent policy decisions by U.S. President Donald Trump, including aggressive trade measures and tariff impositions, as major contributors to global economic instability, further boosting demand for gold.

The international gold market has mirrored this upward momentum. 

According to Shakya, gold prices in the global market hit a new record on Friday, climbing to USD 4,954 per ounce, up from USD 4,800 per ounce on Thursday—an increase of USD 154 per ounce in a single day. 

However, the price dropped to USD 4,800 per ounce on Thursday from USD 4,863 per tola on Wednesday.

“As gold continues to set new records internationally, prices in the Nepali market are adjusted accordingly, as domestic rates are directly linked to global trends,” he said.

The latest surge highlights the dramatic rise in gold prices over the past three years.

Over this period, the price of gold has increased by nearly Rs. 200,000 per tola, including a sharp rise of Rs. 140,000 per tola within a single year.

Gold was priced at Rs. 106,000 per tola in January 2023, Rs. 118,400 per tola in 2024, and Rs. 160,000 per tola in 2025.

The latest surge highlights the dramatic rise in gold prices over the past two decades. In January 2006, gold was priced at just Rs. 14,800 per tola in Nepal. 

It was Rs. 8,500 per tola in 1995, which rose to Rs. 9,400 in 1996. However, it declined to Rs. 7,200 per tola in 2000.