Kathmandu, Monday, March 9, 2026 – Gold prices fell on Monday as global investors reacted to rising inflation concerns and a stronger U.S. dollar. International spot gold declined by around 1.2 percent, pressured by the firm dollar, which makes bullion more expensive for holders of other currencies. Surging crude oil prices linked to tensions in the Middle East have added to inflationary concerns, reducing the appeal of gold as a safe-haven investment. Rising U.S. Treasury yields and expectations that the U.S. Federal Reserve may delay interest rate cuts have further contributed to downward pressure on gold prices.
In Nepal, gold prices remain elevated due to a combination of international market trends, exchange rate fluctuations, and import costs. In early March 2026, hallmark gold in Kathmandu was trading at approximately Rs 328,600 per tola (11.66 grams). The domestic market has shown consistent strength, with demand supported by cultural, religious, and seasonal buying, particularly for weddings and festivals. Silver prices in Nepal have generally followed global movements but remain significantly lower per tola compared to gold.
The decline in global bullion prices has coincided with increased volatility in financial markets worldwide. Crude oil prices exceeding $100 per barrel have heightened inflationary expectations, and geopolitical uncertainty in the Middle East has created additional market unpredictability. The stronger U.S. dollar has reduced the relative attractiveness of non-yielding assets such as gold, contributing to lower international prices.
While global trends have put pressure on gold, domestic prices in Kathmandu continue to reflect import and dealer margins, currency conversion effects, and local demand. The combination of global economic factors and Nepal’s market conditions has kept gold at historically high levels, even amid recent international declines.
