Gold Price New Record in Nepal: Hits Record Above NPR 3 Lakh

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23rd January 2026, Kathmandu

Gold prices in Nepal have surged to an unprecedented level, crossing the historic milestone of 300,000 rupees per tola for the first time in history. According to market data released on Friday, Magh 9, 2082 (January 23, 2026), the price of hallmark gold increased sharply by 9,200 rupees in a single day to reach 301,400 rupees per tola. This marks the highest price ever recorded in the domestic bullion market of Nepal, reflecting a period of extreme volatility and a global rush toward safe-haven assets.

Gold Price New Record

Just 24 hours prior, on Thursday, hallmark gold was trading at 292,200 rupees per tola. The sudden spike has taken traders and consumers by surprise, as the domestic market reacts to a confluence of international geopolitical tensions, a weakening local currency, and shifts in the monetary policy of major world economies. This surge highlights a major shift in investment dynamics as gold continues to serve as the ultimate hedge against economic instability.

Breaking Down the Record-Breaking Price

With this latest increase, the gold market in Nepal has officially entered a new price bracket that seemed unimaginable just a few years ago. The Federation of Nepal Gold and Silver Dealers Association (FENEGOSIDA) has fixed the new rates as follows:

Hallmark Gold per Tola: 301,400 rupees

Hallmark Gold per 10 Grams: 258,400 rupees

Tejabi Gold per Tola: 300,700 rupees (approximate based on standard market spread)

The continuous upward trend observed throughout January 2082 has been driven by a “perfect storm” of global factors. Geopolitical risks, particularly involving major world powers and disputes over territorial claims like the recent tensions regarding Greenland, have prompted global investors to park their capital in physical gold. Furthermore, the massive purchase of gold by central banks—especially in China and India—as part of a “de-dollarization” strategy has significantly tightened global supply, pushing prices to new peaks.

Impact on the Nepali Jewelry Market and Consumers

The crossing of the 3 lakh per tola threshold has had an immediate and chilling effect on the retail jewelry market in Nepal. Retailers in major hubs like New Road, Kathmandu, and Mahendrapul, Pokhara, report a noticeable slowdown in consumer traffic.

Wedding Season Woes: For middle-income families, gold is a cultural necessity for weddings. With a single tola now costing over 3 lakh, a modest five-tola jewelry set (including labor and taxes) can now exceed 1.6 million rupees. Many families are being forced to drastically reduce the weight of ornaments or postpone ceremonies.

The Rise of Lightweight Designs: To adapt to the high prices, jewelry businesses are increasingly focusing on hollow-cast and lightweight designs. 18-karat and 14-karat gold options are also becoming more popular as consumers seek the look of gold without the full price tag of hallmark purity.

A Shift from Buyers to Sellers: In a reversal of traditional trends, bullion traders are seeing more customers coming in to sell their old jewelry to capitalize on the record prices. This “reverse trading” is helping individuals manage the rising cost of living while providing traders with much-needed physical stock.

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Silver Prices Reach an All-Time High

Not to be outdone, silver prices in Nepal have also climbed to a historic high on Friday. The price of silver increased by 320 rupees per tola, reaching 6,190 rupees per tola.

Silver Price per Tola: 6,190 rupees

Silver Price per 10 Grams: 5,307 rupees

This rise reflects the dual role of silver as both a precious metal and an industrial commodity. As gold becomes increasingly unaffordable, many retail investors are turning to silver as a more accessible alternative. Additionally, growing global demand for silver in the solar energy and electronics sectors has contributed to its sustained price growth.

Market Outlook: Where Do Prices Go from Here?

Market analysts suggest that the volatility in the gold market is unlikely to subside in the immediate future. Several key factors will dictate whether the price remains above the 3 lakh mark:

Currency Fluctuations: Any further weakening of the Nepali Rupee against the US Dollar will directly increase the import cost of gold, adding further upward pressure on domestic rates.

Federal Reserve Policies: Investors are closely watching the US Federal Reserve for potential interest rate cuts. Lower rates typically make gold—a non-yielding asset—more attractive to hold.

Domestic Import Quotas: Currently, commercial banks in Nepal are allowed to import 20 kg of gold per day. If demand continues to surge while supply remains capped, the domestic “premium” over international prices could widen.

Experts advise consumers to exercise caution and avoid making large “panic purchases” at record-high levels. While gold remains a reliable long-term store of value, the current price reflects a period of high speculation and geopolitical anxiety.

Conclusion

The surge in gold prices past the 3 lakh rupees per tola milestone is a historic moment for the financial landscape of Nepal. While it signifies the strength of gold as a global asset, it poses significant challenges for the local jewelry industry and the cultural traditions of the Nepali people. As both gold and silver trade at these unprecedented highs, the focus of the market remains fixed on international developments that could either cool the rally or push prices toward even more staggering heights.

For More: Gold Price New Record