KATHMANDU: The local market witnessed a historic surge on Friday, with gold prices crossing the Rs 300,000 threshold for the first time.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of gold rose by Rs 9,200 to reach a record Rs 301,400 per tola (11.66 grams). Silver also touched an all-time high, climbing Rs 320 to settle at Rs 6,190 per tola.

This domestic spike follows a massive rally in the international market, where gold soared to USD 4,960 and silver reached USD 98 per ounce amid global economic shifts.