Kathmandu, February 2, 2026 – The gold and silver rates in Nepal today have seen a dramatic downturn, with hallmark gold dropping significantly to NPR 300,000 per tola according to the latest official update from the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA). This marks a substantial correction following record highs earlier in the week, reflecting volatile global trends and local market dynamics.
As of 18 Magh 2082 (corresponding to February 1-2, 2026, with rates typically set around 11 AM NPT), FENEGOSIDA – the authoritative body regulating bullion prices in Nepal – fixed fine gold (9999 hallmark) at NPR 300,000 per tola. This represents a steep decline of NPR 18,800 from the previous day’s level of NPR 318,800 per tola. In equivalent terms, this translates to approximately NPR 257,200 per 10 grams, down by about NPR 16,120.
Tejabi gold (non-hallmarked or acid gold) remains quoted at NPR 0 per tola in official listings, indicating limited or no active trading in this category, as jewelers and buyers increasingly prefer certified hallmark products for purity assurance.
Silver has followed a similar trajectory, with the silver rate Nepal today standing at NPR 5,500 per tola, a drop of NPR 1,565 from prior levels. This equates to roughly NPR 4,716 per 10 grams. The parallel decline in both metals underscores the interconnected nature of precious metals pricing, influenced heavily by international spot markets.
Recent Volatility in the Nepal Bullion Market
The past week has been one of extremes for Nepal’s gold and silver traders. Just days ago, on Magh 15 (around January 29, 2026), hallmark gold peaked at a historic NPR 339,300 per tola, driven by surging global demand amid economic uncertainties, geopolitical tensions, and inflation hedging worldwide. Silver hit highs around NPR 7,500+ per tola during the same period.
However, a swift reversal occurred, with gold shedding over NPR 39,300 per tola from its peak in a matter of days. The single-day plunge of NPR 18,800 on February 1 was particularly notable, as reported by financial portals like ShareSansar and Artha Kendra. This correction aligns with a pullback in international gold prices, which had climbed to near $4,980 per ounce in recent sessions before easing.
Experts attribute the volatility to several factors:
- Global Economic Signals: Shifts in US Federal Reserve policy expectations, fluctuating US dollar strength, and mixed data on inflation have pressured precious metals. Gold, often viewed as a safe-haven asset, faces selling when risk appetite returns to equities.
- Local Demand Patterns: Nepal’s market is heavily influenced by festival seasons, weddings, and remittances. While demand remains robust for cultural and investment purposes, the rapid run-up prompted profit-taking among investors and jewelers.
- Currency and Import Dynamics: Nepal imports most of its gold and silver, so NPR fluctuations against the USD directly impact landed costs. Recent rupee movements have amplified the corrections.
FENEGOSIDA’s daily rate-setting process, based on international benchmarks adjusted for local taxes, duties, and transport, ensures transparency. The association’s website (fenegosida.org) provides real-time charts showing the weekly trend: gold climbed steadily from NPR 303,800 (Magh 11) to the peak, then corrected sharply to today’s level.
Why the Gold and Silver Rate Nepal Today Matters to Investors and Buyers
For everyday Nepalis, gold holds deep cultural significance beyond investment. It’s a staple in weddings (where families gift jewelry), Dashain/Tihar festivals, and as a store of value amid economic instability. Silver, while less prominent, is used in traditional items and smaller investments.
Today’s gold and silver rate Nepal today at NPR 300,000 per tola for hallmark gold makes it more accessible after the drop, potentially spurring buying interest among households planning purchases. However, buyers should factor in additional making charges (typically 5-15% depending on design and jeweler) and beware of counterfeit or uncertified items.
Investors monitoring the market note that such corrections can present entry points, but caution is advised given ongoing global uncertainties. Some analysts predict stabilization if international prices hold above key support levels, while others warn of further downside if equity markets rally.
Comparison with Other Sources and Historical Context
While FENEGOSIDA remains the official benchmark for trading, aggregator sites like Hamro Patro show slightly varying figures (e.g., around NPR 339,300 for hallmark gold in some cached views), likely due to delayed updates or different calculation bases. Always cross-reference with the association’s site or trusted jewelers in Kathmandu’s New Road or Mangal Bazaar for the most accurate buying/selling rates.
Historically, Nepal’s gold prices have trended upward over the years, from levels below NPR 100,000 per tola a decade ago to today’s highs and corrections. This reflects broader global bullion trends, where gold has served as an inflation hedge.www.nepalnews.com
Looking Ahead
As the week progresses, traders will closely watch international exchanges. Any rebound in global gold could reverse local declines, while sustained weakness might push prices lower. For now, the gold and silver rates Nepal today offers a breather after the euphoric highs, reminding market participants of the inherent volatility in precious metals.How the Impact of AI on Copper Prices in 2026 Is Changing the Market Forever
Stay informed by checking FENEGOSIDA’s official updates daily, and consult certified dealers for transactions. Whether for investment, gifting, or tradition, understanding these fluctuations helps Nepalis make informed decisions in an ever-changing market.