Investors are increasingly attracted to silver as rising gold prices make the yellow metal unaffordable for many.
Records from the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA) show that the price of silver rose by Rs 900 per tola (11.6638 grams) over the past month. On November 9, silver was priced at Rs 3,015 per tola, which increased to Rs 3,905 per tola by Friday—an increase of more than 30 percent during the period.
Bullion traders say demand for silver is rising sharply in both domestic and international markets, pushing prices upward. Former FENEGOSIDA president Manik Ratna Shakya said the soaring price of gold has limited investment opportunities for small and ordinary investors. “As silver is comparatively more affordable, it allows small investors to inject their capital more easily into the market,” he said.
Experts attribute the surge in silver prices to its growing use in electronics and industrial products, low production levels and rising global demand. Silver is increasingly being viewed as the next best investment alternative to gold. Global demand has expanded significantly, driven by growth in solar energy, electric vehicles and the electronics sector.
According to international news agency Reuters, silver prices rose nearly five percent last week and have gained about 112 percent so far this year. Reuters noted that the price rally has been fueled by tightening inventories, sustained industrial demand and silver’s inclusion on the US critical minerals list.
In the Nepali market, silver gained Rs 300 per tola last week, rising from Rs 3,555 to Rs 3,905. The largest single-day increase occurred on Wednesday, when prices jumped by Rs 150 per tola.
Meanwhile, gold prices also climbed by Rs 4,200 per tola over the past week, increasing from Rs 252,400 to Rs 256,600. The biggest single-day rise was recorded on Friday, when gold prices surged by Rs 3,500 per tola.
FENEGOSIDA said gold prices have been influenced by heightened investor interest ahead of the New Year 2026 and recent interest rate cuts by the US Federal Reserve. “Similarly, the continuation of policies by several countries to increase gold and silver reserves amid persistent geopolitical tensions has led to increased demand for precious metals,” the association said in its weekly report.
