Kathmandu, January 28 тАФ Gold prices in Nepal have stunned buyers and traders alike as the rate surged to an all-time high of NPR 318,800 per tola today, marking one of the sharpest spikes ever recorded in the domestic bullion market.
Just a year ago, gold hovering near Rs 200,000 per tola felt expensive. Today, crossing the Rs 300,000 mark has turned gold from a routine purchase into a luxury many households are forced to rethink. The surge mirrors rising global gold prices, a weakening local currency, and growing investor demand for safe-haven assets amid worldwide economic uncertainty.
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The impact is already visible. Families preparing for weddings and festivals are scaling back gold purchases, while jewelers report cautious buyers and slower sales. For many Nepalis, gold is more than an investment. It is tradition, security, and emotional value making the price jump especially hard-hitting.
Traders say the rapid rise has also created uncertainty in the market. Frequent price changes within short periods have made both buying and selling risky, with many customers choosing to wait rather than purchase at peak rates. As a result, gold trading volumes have declined despite record-high prices, reflecting hesitation rather than confidence among everyday consumers.
Economists warn that sustained high gold prices could further affect imports and household savings patterns in the months ahead. While investors with existing holdings benefit from the surge, new buyers face increasing pressure. With global conditions still unstable, experts believe gold prices in Nepal are likely to remain volatile, keeping both consumers and markets on edge.
Meanwhile, financial advisors note a gradual shift in consumer behavior, with some households turning toward alternative investment options such as fixed deposits and mutual funds, while others hold onto gold already in their possession rather than selling. This changing mindset highlights how the record-breaking price is not only reshaping the gold market but also influencing broader financial decisions across Nepal.
For now, as prices continue to climb, gold in Nepal shines brighter than ever but at a cost that few can comfortably afford.
