Visual Capitalist published data showing that the world's central banks will accumulate more than 1,000 metric tons of gold by 2024.
What you should know
The price of gold increased by Rs 9,500 per tola in a single day on Wednesday compared to Tuesday. On Tuesday, the price of one tola of gold was traded at Rs 309,300. Its price reached Rs 318,800 on Wednesday.
What is the reason for this increase in the price of gold? Trading Economics.com has stated that the US dollar has been continuously weakening in the global market in the last one month and the price of gold has been continuously rising. According to which, the price of gold, which was $4,448 per ounce on January 16, 2026, has reached $5,077 on Monday evening (Nepali time) on January 26, 2026.
The reason for the continuous rise in the price of gold in this way is also the decline in the dollar. According to the data of the last one month, the dollar index in the global market has been continuously falling in the last ten days. The dollar index, which was 99.37 on January 19, 2026, has fallen to 97 by Monday evening (Nepali time) on January 26, 2026. This also confirms that the attraction of investors to the dollar in the global market has decreased and gold has increased.
According to Reuters, the main reason for the rise in the price of gold by 64 percent last year and 17 percent this year is the measure to protect investment. On the one hand, the price of gold is rising, on the other hand, some tech and cryptocurrency trading companies and some countries have started an unannounced race to accumulate gold. Due to US President Donald Trump's one after another unstable decisions, additional tariffs and geopolitical tensions, various countries seem to be returning to traditional ways. Visual Capitalist had made public the data that the world's central banks had accumulated more than 1,000 metric tons of gold in 2024, and the media claims that the figure for 2025 could go even higher. A Forbes report mentions that countries such as China, Poland, and India are among the countries that are buying a lot of gold.
China's central bank, which has been buying gold continuously for 14 consecutive months, has increased its gold reserves to about 2,300 metric tons. According to Reuters, Poland is the country that has been investing aggressively in gold in recent days. It has bought more than 95 metric tons of gold in 2025 alone, increasing its reserves to more than 700 metric tons. Although the quantity is not disclosed, according to the Times of India, India's central bank will be the largest gold buyer after Poland in 2024 and 2025. Along with India, countries like Turkey, Kazakhstan, Brazil, Uzbekistan, Indonesia, the Czech Republic, Ghana, and the Philippines have been aggressively increasing their gold reserves, according to media outlets including Forbes.
As the price of gold has increased in the global market, the price of gold has continued to soar in the domestic market, said Tej Ratna Shakya, former president of the Nepal Gold and Silver Merchants' Federation. 'The price of gold is increasing in the global market. On Sunday, US President Donald Trump announced that the US will impose 100 percent customs duty if Canada signs a trade agreement with China,' he said. 'After this announcement, the price of gold in the international market has increased further. This has also affected the Nepali market.'
According to Shakya, as the demand for gold jewelry is zero, businessmen have not purchased gold from banks. He said, "Businessmen have not purchased gold from banks based on recommendations because there is zero demand for jewelry in the market."
