Kathmandu: Gold prices soared to a new record in the domestic market on Friday, surging by Rs 7,100 per tola to reach Rs 258,000, according to the Federation of Nepal Gold and Silver Dealers’ Association.

The price of fine gold was recorded at Rs 250,900 per tola on Thursday, marking a remarkable weekly gain of Rs 20,000 per tola. Analysts attributed the sharp rise to heightened global economic uncertainty and stronger international gold prices.

Silver also mirrored the upward momentum, increasing by Rs 75 per tola to trade at Rs 3,350 per tola, compared to Rs 3,275 the previous day. The white metal has gained Rs 395 per tola this week, setting new records alongside gold.

While investors continue to flock to gold as a safe-haven asset amid inflation and currency fluctuations, jewelers report that retail demand has slowed due to the soaring prices.