Gold prices in Nepal have surged to an all-time high on 18 October 2024 (2 Kartik 2081), reflecting global market movements. With 24K Fine Gold reaching NPR 164,400 per tola, today marks a historic moment for investors, buyers, and traders alike. In this article, we’ll delve into today’s updated gold and silver prices in Nepal, the reasons behind these price hikes, and what they mean for you, whether you’re buying gold jewelry or investing in bullion.

Gold Price in Nepal Today – 18 October 2024 (2 Kartik 2081)

• 24K Fine Gold Price: NPR 164,400 per tola

Comparison with the previous day:

• Yesterday's 24K Fine Gold Price: NPR 162,400 per tola
• Price change: A notable increase of NPR 2,000 per tola in just 24 hours.

Record-Breaking News:
Today’s gold price in Nepal marks the highest-ever recorded price for 24K Fine Gold, making this a landmark day for Nepal’s precious metals market. The increase comes in response to rising global prices and the foreign exchange rates.

Silver Price in Nepal Today – 18 October 2024 (2 Kartik 2081)

• Current Silver Price: NPR 1,980 per tola

Comparison with the previous day:

• Yesterday's Silver Price: NPR 1,950 per tola
• Price change: A smaller, yet steady, increase of NPR 30 per tola.

Why Have Gold Prices Hit a Record High in Nepal?

Today’s record-high gold prices in Nepal can be attributed to the global factors. Here’s a breakdown of why gold prices are surging:

• Global Gold Prices on the Rise: Gold prices in the international market are currently trading at $2,703.18 per ounce, largely due to economic uncertainties and inflation. This is driving up prices across all markets, including Nepal.
• USD/NPR Exchange Rate Impact: The depreciation of the Nepali rupee against the US dollar (currently trading at ₨ 134.5 per USD) has made importing gold more expensive, further pushing prices upward.

Investment Insights: Is Now the Right Time to Buy Gold in Nepal?

With gold prices reaching an all-time high, many investors and buyers may be wondering whether it’s the right time to purchase gold. However, gold is yet to become an investment option in Nepal. 

Here are a few insights on gold investments globally:

• For Long-Term Investors: Despite the current peak, gold remains a safe-haven asset. Over the long run, gold tends to perform well, especially in times of economic uncertainty. If you’re investing to hedge against inflation or diversify your portfolio, gold is still a strong option.
• For Short-Term Buyers: With gold prices at their highest-ever, those looking to buy in the short term may want to exercise caution. Keeping an eye on global trends and potential corrections in the coming weeks could offer a better buying opportunity.
• Consider Silver as an Alternative: For those who are price-sensitive, silver continues to be a more affordable alternative. Today’s price of NPR 1,980 per tola presents a relatively stable opportunity for those looking to invest in precious metals without breaking the bank.

FAQ About Gold and Silver Prices in Nepal

Q: Why did the gold price reach a record high in Nepal today?
The gold price reached a historic high today due to a combination of rising international gold prices, and a weakened Nepali rupee. Surprisingly the local demand has no effect on the gold prices in Nepal due to highly regulated supply of gold. 

Q: What factors affect gold and silver prices in Nepal?
Gold and silver prices in Nepal are primarily influenced by international market trends, and currency exchange rates.

Q: Is it a good time to invest in silver in Nepal?
With silver prices still stable compared to gold, investing in silver may be a good opportunity for those seeking to enter the precious metals market at a lower price point. However, gold and silver can be generally bought in the form of jewelry only and it's almost impossible to buy them at market price. An addition of making charges and process lost as a percentage of the gold price generally makes investing in gold by buying jewelry not so rewarding. 

Nepal’s Gold Hits Highest-Ever Price – What’s Next?

Today’s record-breaking gold price of NPR 164,400 per tola signals a major shift in the Nepalese gold market. Each day, the gold price is making new records. With rising international prices, and the Nepali rupee weakening, prices are expected to remain high for the near future. 

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