The international commodity market has experienced a significant surge in prices, impacting key commodities such as oil and gold, while the Nepali market sees notable increases in gold and fuel prices.
International Commodity Prices:
- Crude Oil Brent prices soared by 7.6 percent, reaching $93.12 per barrel in mid-April 2024, compared to $86.51 per barrel a year earlier.
- Gold prices surged by 17.2 percent to $2401.50 per ounce in mid-April 2024, up from $2048.45 per ounce a year ago.
Domestic Gold Prices:
- In the domestic market, the price of gold witnessed a remarkable rise, with an increase of Rs. 500 per tola.
- The Nepal Gold and Silver Dealers’ Association reported the price of fine gold at Rs. 138,400 per tola, while standard gold is trading at Rs. 137,750 per tola.
- This marks a significant increase from the previous trading day, where fine gold was priced at Rs. 135,600 per tola, and standard gold at Rs. 134,950 per tola.
Fuel Prices in Nepali Market:
- In the Nepali market, the price of petrol stands at Rs. 175.5 per liter, while diesel is priced at Rs. 156.5 per liter.
The surge in international commodity prices reflects global market trends, driven by various factors influencing supply and demand dynamics. These fluctuations impact both global and domestic economies, necessitating careful monitoring and management of commodity prices.
