Gold price in Nepal per Tola fluctuates every day. It depends upon multiple factors in the Nepali market. Gold price varies in countries. It depends upon the tax rate, dollar rate, and other factors.
It is better to know the Gold Rate today in Nepal before you go to the market. The gold daily price in Nepal in Nepalese market fluctuates and changes. The gold/silver price is rapidly changing daily in the Nepali gold market and the international market.
Nepal Gold price today (Rate in Rupee NPR per tola)
Today gold price in Nepal
Wednesday, 12th of October 2022
|Types of Gold in Nepal||Rates today|
|Fine Gold price per tola||94198.46|
|Tejabi Gold price per tola||93696.91|
|Silver price per tola||1200.23|
The Federation of Nepal Gold and Silver Dealers Association provides daily updates on gold prices in Nepal. You can check the Nepal gold price today by going to the official website of the Federation of Nepal Gold and Silver Dealers Association.
First, go to www.fenegosida.org. You will see the screen as shown in the image.
On the homepage, you will see the daily gold price in Nepal. So, the official website mentioned on this page gives the official gold rate of Nepal. You will find the price of gold in Nepal in both Tola and grams.
The Nepali gold price shown in the image above is a fifth of Kartik. So, This is the only best way to check the current gold price in Nepal per Tola of today.
Gold price chart in Nepal
These days Dollar Rate is crossing the limits of the Nepalese rupee at 124 for a single dollar. The gold rate is also increasing rapidly. The gold rate was 50 thousand per Tola a month before.
Gold is an essential component of human lives on earth today. Gold has a metallic value and has been used for medicinal purposes. Today, gold is used for medicines to luxury. When we talk about gold, it is not just about its metallic value but also its vital role in currency management throughout the world. Gold has played an important role in backing up the currency worldwide for a long but this day. The most common form of usage of gold in our society is jewelry.
Gold is inert, so its salt is also used for various medicinal purposes. It is used to treat arthritis; gold-based injections heal and minimize the pain and swelling of rheumatoid arthritis and tuberculosis. Gold salt is also crucial in dentistry, helping with restorations. Another significant use of the gold is for electroplating gold onto base metals. The gold price fluctuates almost every other day since different factors affect gold prices. I have listed the gold price today in the market.
Factors affecting the gold price in Nepal
Numerous factors affect gold prices in Nepal. The exchange rate of the dollar, also called the Forex rate, can make gold prices unstable.
There are lots of factors that affect the gold price in Nepal. We have listed the most important factors that affect the price of the gold rate in Nepal.
- With an increase in the dollar rate, Gold Rate decreases.
- The gold rate also depends on demand when the demand for gold increases, the gold rate increases.
That is why the increase in demand during the festival season in Nepal increases the price of gold.
US dollar rate
The United States dollar rate has dominated the gold price worldwide. Nepal depends upon the dollar rate based on INR. As the dollar rate increases, Nepal needs to spend more Nepalese rupees. So, the price of gold in Nepali rupees increases with an increase in the US dollar rate.
Sometimes, an inverse relationship exists between the US dollar and gold price. As the currency becomes more robust, the gold price decreases, and as the US dollar price goes down, the gold price rises. The cost of anything depends highly on its supply-demand ratio. The higher the demand higher will be the price, and the lower the demand lower will be the price. When it comes to supply, the lower the supply higher will be the price, and the higher the supply lower will be the price. The charge of gold is impacted by production charges, money supply, and so on. Interest rates also have a significant impact on gold prices.
The limitation in imports raises the price of gold. The gold price in Nepal increased by Nrs 900 in a single day on October 3, 2020 (Source: The Himalayan Times). September was a month of Festivals in Nepal with Dashain and Tihar. There was a quota on which jewelry businesses could import. So this severely gave rise to the gold price in Nepal.
The demand is the most important factor affecting the increasing price of gold in Nepal. During the season of marriage, especially in the month of Mangsir and Falgun, the gold price increases in Nepal. The demand for gold increases, and the supply remains the same.
Gold production plays a vital role in determining the price of gold. The decrease in the mining of gold significantly can not meet the demand for gold at an international level. Less production gives rise to the price of gold not only in Nepal but also at the international level.
Supply and demand
If the demand for gold in Nepal is high and the supply of gold is less, the price automatically rises. The examples mentioned above also show the increasing demand with constant supply giving a severe rise in Nepal gold price.
How to calculate the gold price in Nepal
We usually buy gold in Nepal in Tola. One Tola of gold equals 11.33980925 grams. So, the price of one Tola of gold is higher than 10 grams as the quantity is higher.
1 Tola is equal to 11.33980925 grams
1 Ounce is equal to 0.41142887831204 Tola
An Ounce is equal to 28.3495 gms
Hence, the most used unit to buy or sell gold in Nepal is Tola.
Determining the price of gold
This example shows how the price of gold is determined. In this paragraph, we calculate the price of gold in Nepal.
Let us consider that today’s gold price per ounce is Nrs 125,700 for 24 Carat.
Then today’s gold price per gram is Nrs 4041.80 (Nrs 125,700/31.1).
The price of 10-gram gold is Nrs 4041.80*10= Nrs 40418
24 Carat is pure gold. But, we usually use 22 carats for making ornaments. So, we add different metals to make the compound stronger. So, calculation and price can vary.
Importance of Gold in Nepal
Gold is not merely jewelry in Nepali society. It has its role in the currency management of the nation, and most importantly, it has excellent value in the lives of Nepali women. Buying gold is considered a symbol of prosperity. Our tradition also has a vital role to play here—none of our auspicious occasions are complete without using gold.
It has great religious significance and great ornamental value. This may be why our marriages are filled with gold jewelry since gold is considered the purest element. It acts as a symbol of purity. We can’t ignore that gold is highly liquid and portable as a security or an asset.
It can be considered an investment as well. Because of all these reasons, the level of demand for gold in Nepal is enormous, and the gold market is a very big business in Nepal. The demand for gold never seems to be decreasing.