Kathmandu. The price of gold and silver has seen a bull run lately. KATHMANDU: Price of gold and silver has reached an all-time high in the international market on Sunday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of gold has increased by Rs 88,400 per tola in the Nepali market in the period of one year (October 12, 2081 to October 12, 2081). The price of gold has increased from Rs 1,60,000 on October 11, 2081 to Rs 2,48,900 by October 12, 2082.

Likewise, the price of silver has also reached an all-time high in the Nepali and international markets. According to Federation of Nepal Gold and Silver Dealers’ Association, the price of silver has risen by Rs 1,335 per tola to Rs 3,325 per tola in a year. The price of silver was Rs 1,905 in September 2081.

Similarly, the price of gold has also increased by Rs 64,600 per tola since April 15, 2022. The price of gold was Rs 1,84,300 per tola on April 14. The price of gold has increased by Rs 32,800 per tola in September. On September 17, it was Rs 2,16,100.

Although the price of gold and silver has skyrocketed, the demand for gold is high in the Nepal market at present, according to traders. At present, the price of gold in the international market is Rs 2,48,500, but the general public has to pay 2 percent luxury tax levied by the government on the same price. If the luxury tax is added to the price of gold of Rs 2,48,500,000, then the price of gold will be above Rs 2,55,000.

In this way, even after paying the luxury tax imposed by the government, the businessmen continue to sell the gold by adding the wages and the jewelry. According to Shakya, the price of gold has reached Rs 255,000 to Rs 60,000 per tola in the Nepali market. Traders said that the price of silver will also increase. Similarly, the price of gold has also set the new record. According to Federation of Nepal Gold and Silver Dealers’ Association, silver price has gone up by Rs 1,320 per tola today compared to Rs 1,225 per tola on April 15. The price of silver has increased by Rs 775 per tola in September. The price of silver was Rs 2,350 per tola on Monday.

Meanwhile, in the international market, the price of gold has increased by Rs 1,451.84 per ounce. In the last six months, the price of gold has increased by $ 890.27 per ounce in the international market. In the last 30 days, the price of gold has increased by Rs 432.62 in the international market. In the international market, gold was trading at $ 4,75.88 per ounce.

Similarly, the price of silver has also reached an all-time high at the international market. In the international market, silver is being traded at $ 51.75 per tola. In the international market, the price of silver has increased by Rs 20.37 per liter. The price of silver has increased by $ 19.53 in six months and by $ 9.30 in 30 days.

Why is gold and silver on the rise?TAG_OPEN_strong_49

US President Donald Trump has introduced tariffs (tax policies) in many countries. He has increased the tax rate from 10 to 50 percent in different countries. This has affected the gold and silver business. Many countries have seen Trump’s policies as an unsafe policy and a policy that will lead to a trade war. The reason for this is that the sale of gold has increased and this has increased the price of gold.

Lately, the Nepali currency has become cheaper between Indian and Nepali currencies in Nepal. According to Shakya, former president of the Federation of Nepalese Chambers of Nepal (FNCCI), the Nepali currency is very cheap in the international market. The US dollar has also risen sharply in recent years.

When the value of the dollar increases, imports also become expensive. Since Nepal is an import-oriented economy, the exchange rate of the US dollar plays a big role in determining the price. Importers are compelled to buy gold by paying higher prices due to the strengthening of the dollar. Due to this, the price of gold has reached an all-time high. The Ukraine-Russia war over the past few years, escalating tensions in the Middle East and supply chains in Asia have been disrupted. As a result, global trade has become more expensive. Due to this, the price of gold has increased in the international market. Its impact has been felt in Nepal as well.

At the same time, Bank of America expects the price of gold to reach $ 4,000 an ounce by mid-2026. International media have claimed that the rise in gold prices is due to uncertainty over the independence of the Federal Reserve and rising geopolitical tensions.

In recent years, countries including the Bank of the UK have been reducing interest rates on fixed deposits. Due to this, Bank of America has also indicated that it will reduce interest rates. This has also contributed to the rise in the price of gold. According to the Nepal Gold and Silver Dealers Association, the price of gold will increase as investors will increase their investment in gold if Bank of America reduces the interest rate. In recent years, countries such as China and Poland have sharpened their gold buying rates. Central banks of various countries are continuously buying gold. Due to this, the price of gold has increased.

Silver has started getting less in the world market, what is the situation in Nepal?

According to gold traders, the price of silver has decreased in the international market due to the high demand for silver in the recent period. According to Manik Ratna Shakya, former president of the Federation of Nepal Gold and Silver Dealers’ Association, there has been a shortage of silver in the Nepali market lately. “Along with the skyrocketing price of gold, the price of silver has also started falling. In the world market, gold and silver are considered as safe investments. He says, “As a result, those who cannot invest in gold are in the mindset of investing in silver. ’

Similarly, there is a tradition of buying silver utensils during Tihar. According to traders, the demand for silver has increased in the Nepali market. “There is a lot of demand for silver. The shortage is due to the supply not being able to meet the demand. ” says a businessman. The demand for silver has increased due to the increase in the price of silver in the future and it is safe to invest in it. It is lacking in the world market and in Nepal. Commercial banks can import silver worth $ 1,50,000 at a time in Nepal. After the purchase, the businessman will buy silver again.

160 kg gold and 221 kg silver imported in two months

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According to the Department of Customs, the import of raw silver worth Rs 1.08 billion in the first two months of the current fiscal year. According to the Department of Customs, 6,160.554 kg silver was imported in the first two months of the current fiscal year. The government has collected revenue worth Rs 10.81 crore by importing silver. According to the Department of Customs, silver worth Rs 40.60 lakh was imported in the last two months.

Similarly, raw gold worth Rs 3.42 billion was imported in the first two months of the current fiscal year, according to the Department of Customs. According to the data of the Department of Customs, 221.893 kg of gold was imported in the first two months of the current fiscal year. The government has collected Rs 34.29 crore revenue from this. According to the department, gold worth Rs 5,26,62,000 has been imported in the first two months.

How is the price of gold and silver determined in the world and Nepali market?TAG_OPEN_strong_46

According to the Legal Practice Management Association, the price of gold has been fixed at US dollar twice every day. Similarly, international exchanges such as America’s Comex, Japan’s Tokam, Shanghai Gall Exchange, etc. are price-fixed. It is an agreement to buy and sell gold at a certain price on a certain date in the future. Similarly, big banks and traders have been buying and selling gold directly from the OTC market. Due to this, the price of gold has fluctuated daily in the world.

If inflation rises, people prefer to invest in gold instead of money. If the demand for gold increases, the price will increase. Similarly, the price of the US dollar is also linked to the price of gold. Generally, when the value of the dollar weakens, the price of gold increases. The price of gold is denominated in dollars. When the dollar is cheaper, those who buy gold in other currencies can buy gold at a cheaper rate. Similarly, the central banks of various countries also buy gold. In this way, the supply of gold in the market decreases and the price increases.

Similarly, the impact of interest rates also affects the price of gold. When there is political and economic uncertainty in the world, it also affects the rise in the price of gold. The price of gold also increases due to trade wars and other wars in the international arena. Investors consider gold as a safe investment.

Similarly, the price of gold in Nepal is determined on the basis of the international price. According to an official of the Federation of Nepal Gold and Silver Dealers’ Association, the price of gold set at ten am every day in the international market is determined by adding the customs rate, bank cost and profit, foreign exchange rate and profit of traders. Currently, the Nepal government has fixed the customs duty on gold at 20 percent.

Similarly, commercial banks that import gold have a profit of 0.5 percent. Similarly, traders determine the price of gold by keeping a profit of 0.5 percent on the imported price. On the other hand, customers will have to pay an additional 2 percent luxury fee when buying gold worth more than Rs 10 lakh. This fee is not calculated while determining the price. The price of gold in Nepal is fixed by the Federation of Nepal Gold and Silver Dealers Association. For this, the federation has formed a five-member rate determination committee. The committee fixes the price of gold on days except Saturday.