KATHMANDU, 24 December 2025 — The Federation of Nepal Gold and Silver Dealers’ Association confirmed that fine gold in the domestic market rose to Rs 268,100 per tola, a Rs 900 single‑day advance that establishes a new local record and lifts regional price floors.
- Price: Rs 268,100 per tola (fine gold)
- Purity / Carat: Fine gold (24K equivalent)
- Silver Price: Rs 4,420 per tola (up Rs 165)
- Origin: Nepal domestic market (Federation report)
- Date: 24 December 2025
Context — What pushed prices higher
The move reflects concentrated local demand and upward pressure on regional premiums rather than a pure change in London bullion benchmarks. Dealers described supply tightening and elevated import costs as primary drivers; bullion, in hands, now carries a warmer, buttery weight in retail invoices. Silver’s vitreous luster has also firmed, with a one‑day jump to Rs 4,420 per tola that signals buyers shifting between metals as relative value changes.
2025 Trends this echoes
Two broader 2025 dynamics intersect here. First, sustained safe‑haven flows and fragmented supply chains have kept physical metal demand resilient even as central banks navigate disinflation. Second, U.S. and European retailers are increasingly treating precious metals as margin management tools—pivoting assortments, emphasizing lab‑grown gemstones where appropriate, and specifying thinner gold gauges to preserve price accessibility. The result: bullion prices set new regional anchors while sculptural, lower‑gram designs gain commercial traction.
Impact — Why U.S. retailers and investors should care
For U.S. buyers sourcing from South Asia, the immediate consequence is higher landed costs and compressed margins on gold‑set goods. Importers should expect a larger premium on Nepal‑sourced pieces and plan hedges or forward purchases where possible. Retailers may also accelerate two defensive moves: increase allocation to lab‑grown stones to protect bridal entry points, and offer pieces that trade on tactile qualities—substantial heft, clean polish, and restrained settings—so consumers perceive value despite sticker increases.
Investors tracking regional spreads will note this is not merely a headline spike: persistent local records can widen the arbitrage between London/COMEX quotes and domestic retail levels, creating short windows for disciplined sourcing or export opportunities for refiners. For high‑net‑worth buyers, the rise in both gold and silver reinforces precious metals’ role as portfolio ballast in 2025.
The Federation’s figures mark a clear inflection in Nepal’s pricing curve; for traders and retailers, the practical task is managing inventory, communicating measurable value to customers, and aligning assortments with the new premium structure.
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