Gold and Silver Prices Decline in Nepal on Magh 8 After Record High
After hitting a historic high on Wednesday, gold and silver prices in the Nepali market declined on Thursday. Gold fell by Rs 2,900 per tola, while silver dropped by Rs 50.
Gold and silver prices declined in the Nepali market on Thursday, Magh 8, following a sharp rise that pushed prices to a record high a day earlier.
According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of hallmark gold has been fixed at Rs 292,200 per tola on Thursday. This represents a decrease of Rs 2,900 compared to Wednesday, when gold was traded at Rs 295,100 per tola in the domestic market.
Similarly, silver prices also witnessed a decline. Silver, which was traded at Rs 5,920 per tola on Wednesday, fell by Rs 50 to trade at Rs 5,870 per tola on Thursday.
Market analysts attribute the price fluctuation to movements in the international bullion market along with changes in local demand and supply conditions.