Nepal Gold Price Surges Rs 1,800 Per Tola Amid Global Rate Hike Fears

The price of gold in Nepal's domestic market surged by Rs 1,800 per tola (11.6638 grams) last week, according to a report from the Federation of Nepal Gold and Silver Dealers' Association (FENEGOSIDA).

The market price of gold increased to Rs 318,500 from Rs 316,700 per tola when the market closed the previous week.

However, the price of silver decreased by Rs 20 last week, increasing from Rs 4,985 to Rs 4,965 per tola.

The gold price had reached a three-month high last week but pacified by 3% on Friday due to expectations of the Federal Reserves hiking interest rates, as reported by Reuters.