Gold Prices Soar by Rs 4,700 Per Tola in Nepal
The price of gold has surged by Rs 4,700 per tola in Nepal over the past week. According to the Federation of Nepal Gold and Silver Dealers' Association (FENEGOSIDA), the market price increased from Rs 296,900 to Rs 301,600 when the market closed last week.
The largest gain was recorded on Tuesday with an escalation of Rs 6,400, while the second-largest increase of Rs 4,600 occurred on Friday. Gold prices have been influenced by bullish momentum and fear of missing out, with investors awaiting key US inflation data to gauge the Federal Reserve's policy moves.
In addition to gold, silver prices also rose last week, increasing from Rs 4,580 to Rs 4,660 per tola, an incline of Rs 80. The rise in precious metal prices comes amid a backdrop of global economic uncertainty and inflation concerns.