Gold price in Nepal hits Rs. 197,900 per tola! Discover why it's soaring, what it means for your money, and if gold still beats fixed deposits in 2025.

If you've been casually checking the gold price in Nepal over the past year, you may have noticed something: it doesn’t stay calm for long.

Just a few days ago, prices were hovering under Rs. 190,000 per tola. Fast forward to Baisakh 9, 2082, and boom, we’re suddenly staring at Rs. 197,900. That’s a Rs. 6,900 jump overnight. Wild, right?

This isn't some random blip. It’s part of a much bigger global story, and it’s unfolding right in your jewelry box.

Globally, gold is now dancing around $3,460 per ounce, the highest it's ever been. And here in Nepal, that global trend hits home fast, thanks to currency exchange rates and hefty import costs.

But what’s really fueling this surge? Let’s break it down.

What’s Really Driving the Gold Price Up?

1. Global Chaos = Gold Comfort

Let’s be honest. 2025 has been a rollercoaster ride. From simmering conflicts in Eastern Europe and the Middle East to unstable oil prices and rising inflation across major economies, uncertainty is the new normal.

And whenever the global economy feels like it’s walking on eggshells, investors panic. But instead of stuffing cash under their mattresses, they do the next best thing. They buy gold.

Why?

Because gold is like that one friend who always shows up when things go wrong. It's stable, time-tested, and doesn’t lose its value overnight like stocks or crypto. Whether you're in Tokyo, London, or Kathmandu, the moment things look shaky, gold becomes the go-to shield.

So when there’s global chaos, gold doesn’t just shine, it glows. And that glow? It’s reflected in the gold price in Nepal.

2. Weak Nepali Rupee = Pricier Gold at Home

Now, let’s zoom in on Nepal.

Unlike some countries that mine their own gold, Nepal is a 100% gold-importing nation. That means the price we pay for gold depends heavily on how our currency is doing against the US dollar.

And lately? The Nepali rupee hasn’t been winning any medals.

Let’s say last week, the exchange rate was $1 = Rs. 130. Today, it’s $1 = Rs. 135. That Rs. 5 difference might sound small, but across one ounce of gold (~2.67 tolas), it adds up fast. Thousands of rupees per tola, in fact.

So even if global gold prices stay the same, a weaker rupee means we end up paying more for the same chunk of gold. That’s one of the hidden reasons the gold price in Nepal climbs even when international prices are flat.

3. Wedding Season = Gold Rush

Here in Nepal, gold isn’t just a commodity, it’s part of who we are.

Weddings? You need gold. Births, pasni, or family blessings? Bring out the gold. Festivals like Teej, Dashain, Tihar? You already know the drill.

As soon as the festive calendar kicks in, so does gold fever. Families rush to jewelry stores, eager to buy that perfect necklace or bangle, not just for style, but because it symbolizes love, respect, and long-term security.

And let’s not forget: gold jewelry is still the default savings tool in many households. No paperwork. No market risk. Just something tangible you can hold.

So while investors in the U.S. are buying gold bars to hedge their portfolios, people in Nepal are standing in line at the jewelry counter. But whether it's bars or bangles, the demand still drives up the price.

4. Short Supply = Long Price Tag

Global demand is soaring, but gold supply? Not keeping up.

Mining operations around the world have been hit by everything from climate change regulations to labor shortages and geopolitical instability. Some mines are scaling down, others are closing temporarily, and transportation delays are becoming the norm.

That means less gold is making it to the market.

And just like any commodity, less supply + more demand = higher prices.

Even a small disruption in supply can ripple across global markets. And for import-reliant countries like Nepal, that means even fewer ounces available, higher per tola costs, and a faster jump in the gold price in Nepal.

5. Central Banks Are Going Gold Crazy

Here’s a twist most people don’t see coming: governments are hoarding gold, too.

From 2023 to 2025, central banks around the world, especially in China, India, Turkey, and Russia, have been quietly stacking up their gold reserves at record levels, according to the World Gold Council.

Why?

Because gold isn’t just for individuals. Even governments want a backup plan, a safety net that doesn’t depend on foreign currencies or volatile markets. And gold fits that role perfectly.

But when central banks buy, they don’t buy 1 or 2 tolas. They buy tons, literally. And when they do, they hoover up massive chunks of global supply, leaving less gold for commercial use, individual investors, or countries like Nepal.

And guess what? That scarcity hits your local jewelry shop. The price tag you see isn’t just about market demand, it’s also about the central banks quietly changing the game behind the scenes.

Gold vs. Fixed Deposits in Nepal: Which Is Better?

Let’s face it. Gold isn’t the only option. Nepali banks still offer fixed deposits, and many people prefer them for their safety. But are they still competitive?

1. Returns on Investment

• Gold: The price of gold exactly 10 years ago (Baisakh 9, 2072) was standing at Rs. 51,900 per tola. Taking that into account, gold has delivered a CAGR (Compound Annual Growth Rate) of 14.32%. Even in the last five years, gold has far outpaced FD returns.
• Fixed Deposits: Current FD interest rates in Nepal hover between 5% and 7% depending on the institution and tenure.

Example:
Let’s say you invested Rs. 100,000 in 2015:

• In gold: It would now be worth Rs. 350,000+
• In a 6% FD: It would be around Rs. 180,000

2. Liquidity

• Gold: Easy to sell in emergencies. Can be pledged for a loan at most banks.
• FDs: Not as flexible. Early withdrawal often comes with penalties.

3. Risk and Stability

• Gold: Prices can be volatile short-term but stable or rising long-term.
• FDs: Low-risk, steady income, and insured (up to a limit).

4. Inflation Protection

• Gold: Excellent hedge against inflation.
• FDs: Often underperform inflation, especially when rates are low.

Real-Life Perspective:

Imagine this scenario:

In 2010, you bought 10 tolas of gold for Rs. 35,000 each (Rs. 350,000 total). Today, that gold is worth Rs. 1,979,000, a 5.6x increase! If you had put the same in an FD at 6%, you’d have around Rs. 671,000 today.

Why Do Nepalese Still Love Gold?

• Cultural Value: Gold is a must for weddings, pujas, and festivals.
• Wealth Symbol: Especially in rural Nepal, gold is a trusted form of wealth.
• Low Trust in Other Investments: Stock markets and mutual funds are still considered risky by many.
• Generational Investment: Passed down as family wealth, not just bought and sold like stocks.

How Is Gold Price in Nepal Calculated?

Let’s break it down:

1. International Gold Rate (in USD/oz)
2. Exchange Rate (USD to NPR)
3. Import Taxes & Premiums
   • Customs Duty
   • VAT (13%)
   • Dealer margin and transport

All these add up to the final gold price in Nepal.

Gold Price = (Global Rate x Conversion) + Import Tax + VAT + Dealer Markup

Click here if you want a detailed breakdown of how gold price in nepal is calculated.

Smart Ways to “Invest” in Gold in Nepal (And Why It’s Time for a Change)

In Nepal, when people talk about investing in gold, what they usually mean is:
“I bought a necklace for my daughter’s wedding” or “I saved a few tolas in jewelry form.”

But here’s the catch: gold jewelry isn’t a financial investment. At least, not in the way most people think.

The sad reality is that buying gold jewelry is still the only widely accepted way to “invest” in gold in Nepal. Gold bars, coins, ETFs, and gold bonds? They sound fancy, but they haven’t really taken off here.

Let’s walk through what people currently do, and what smarter options could look like if we had the right infrastructure.

1. Gold Jewelry (The Traditional Default)

Cultural must-have, but not wealth-building

Pros:

• Widely accessible in every city and village
• Emotionally and culturally significant (weddings, dowry, puja)

Cons:

• You pay extra for design, making, and wastage, none of which you get back when selling
• Poor resale value: you’ll often lose Rs. 10,000–15,000 per tola or more
• Hidden deductions like melting charges and purity cuts

Reality Check: You might buy at Rs. 197,900 per tola, but when you sell it, you’re only getting Rs. 180,000 or less.

Jewelry gives peace of mind. But if your goal is to grow wealth, it’s a shaky strategy.

2. Gold Bars & Coins (Still Rare in Nepal)

Theoretically smarter, practically uncommon

Pros:

• Lower overhead (no making/wastage charges)
• Easier to value and sell if purity is verified

Cons:

• Not widely available through banks or authorized dealers
• Public awareness is low; many don’t know where to buy genuine bars/coins
• Requires secure storage

In Nepal, buying gold bars and coins for investment isn’t mainstream. Most dealers focus on jewelry because that’s where the demand, and the margins are.

Until more banks or gold institutions offer verified 24K products, this option remains more “theoretical” than practical for the average Nepali.

3. Digital Gold (Early but Promising)

The non-physical option is slowly gaining traction, but it’s still unregulated as of now. 

Pros:

• Buy in small amounts (as little as Rs. 100)
• Stored securely on your behalf

Cons:

• Not regulated by Nepal Rastra Bank yet
• Cannot be pledged or easily resold outside the platform

But for it to become a trusted investment vehicle in Nepal, it will need clear regulations from the NRB.

Until then, it’s a space to watch, but not something to fully rely on just yet.

4. Gold Mutual Funds / ETFs (Not Yet in Nepal)

Smart but currently out of reach

Pros:

• Popular in India, the US, and other markets
• Track international gold price
• No physical gold, no theft, no purity issues

Cons:

• Not available on NEPSE or any platform in Nepal
• Requires cross-border investment knowledge and regulatory clarity

This is exactly the kind of tool that Nepal Rastra Bank and NEPSE need to introduce to modernize how we invest in gold.

The Bottom Line

In Nepal, gold = jewelry for now. And jewelry is not an investment, it’s an expense wrapped in tradition.

If you’re buying it for emotional reasons, that’s perfectly fine.
But if you’re buying thinking “this will grow my money”, it’s time to rethink.

Better alternatives like gold bars, digital gold, or paper gold exist, just not widely in Nepal yet.
That’s why we need policy changes, education, and better investment tools to catch up with the rest of the world.

Fixed Deposits: What You Should Know

FDs are great for those who value safety and predictable income. Here’s what to consider:

Pros

• Guaranteed returns
• Low risk
• Good for retirees or short-term savings

Cons

• Not inflation-proof
• Early withdrawal = penalties
• Returns are taxed

Quick Snapshot of FD Rates (April 2025):

What Should You Choose in 2025?

Choose Gold If:

• You’re investing long-term
• You want inflation protection
• You like assets you can touch and use

Choose FDs If:

• You need regular interest income
• You’re risk-averse
• You want capital preservation

Smart tip: A mix of both gold and FDs balances safety and growth.

What Lies Ahead: Will Gold Price in Nepal Cross Rs. 2 Lakh?

It’s highly likely. With the current price standing at Rs.197,900 per tola, it’s only a matter of time until gold price in Nepal crosses the 2 lakh mark.

With global economic tension, weak NPR, and upcoming festive demand, many experts believe we’ll see gold prices cross the Rs. 200,000 mark in 2025.

But remember: Gold is not a “get rich quick” scheme. It’s a “preserve wealth slowly” strategy.

Final Thoughts

The spike in gold price in Nepal isn’t just about numbers, it’s a wake-up call for all of us to pay closer attention to how we manage money. Whether you're saving for a wedding, building a safety net, or just looking for a smart investment, understanding your options matters.

Gold has history. Fixed deposits have safety. Your financial journey needs both wisdom and balance.

So next time you see the gold rate on the news, don’t just scroll past. Ask yourself, What does this mean for my money?

Additional Resources

• Gold Price in Nepal: Why Gold Jewelry Isn’t Growing Your Wealth 
• 10 Ways to Earn Money Online in Nepal Without Investment (2025) 
• Tax Rate in Nepal: A Comprehensive Guide to Tax Slabs, Deductions, and Tax Calculator Tools