Kathmandu, Jan 1: The price of gold in Nepal's domestic market has risen sharply by Rs 1,400 per tola (11.66 grams) today, reaching Rs 151,000 per tola. In contrast, the price of silver remains steady at Rs 1,765 per tola.

The hike in gold prices is attributed to rising rates in the international market coupled with increased domestic demand, according to the Nepal Gold and Silver Dealers' Association. On Tuesday, gold was traded at Rs 149,600 per tola.