Kathmandu, The upward trend in Nepal's gold and silver market continued on Monday, with the price of gold reaching a new all-time high.

According to the Federation of Nepal Gold and Silver Dealers' Association, the price of hallmark gold has risen to NPR 233,100 per tola (approximately 11.66 grams)  setting a new record in the Nepali market. On Sunday, the price stood at NPR 230,600 per tola, marking an increase of NPR 2,500 in a single day.

Silver prices have also increased. The price of silver rose from NPR 2,930 per tola on Sunday to NPR 2,960 per tola on Monday.

According to the federation, the surge in prices is influenced by fluctuations in the international market, increased demand ahead of the festive season, and changes in the US dollar exchange rate. The continuous price hike has put pressure on consumers, while traders anticipate that the prices could rise even further in the coming days.