Gold prices in Nepal witnessed a sharp rise on Friday, with the price of hallmark gold increasing by Rs. 7,200 per tola in a single day.

According to the Federation of Nepal Gold and Silver Dealers' Association, hallmark gold is being traded at Rs. 290,700 per tola, up from Rs. 283,500 per tola recorded on the previous trading day.

Silver prices also moved higher, rising by Rs. 165 per tola to Rs. 4,615 per tola, compared to Rs. 4,450 per tola on Thursday.

The increase follows movements in the international precious metals market, which continue to influence domestic gold and silver prices in Nepal.