Gold Drops Rs 8,200 Per Tola, Silver Falls Rs 335 in Nepal's Market
Gold and silver prices declined sharply in the domestic market on Sunday. According to the Federation of Nepal Gold and Silver Dealers' Association, gold fell by Rs 8,200 per tola while silver dropped by Rs 335 per tola.
Gold and silver prices witnessed a significant decline in Nepal's domestic market on Sunday, providing some relief to buyers after recent price surges.
According to the Federation of Nepal Gold and Silver Dealers' Association, the price of fine gold (hallmark gold) decreased by Rs 8,200 per tola, bringing the new rate down to Rs 300,800 per tola.
Similarly, silver prices fell by Rs 335 per tola, with the precious metal now trading at Rs 4,895 per tola.
On the previous trading day, Friday, fine gold was traded at Rs 309,000 per tola, while silver was priced at Rs 5,230 per tola.
The decline in domestic prices comes amid fluctuations in the international precious metals market. International media reports indicate that gold is currently trading at around USD 4,500 per ounce, while silver is being traded at approximately USD 77 per ounce.
Market analysts say changes in global demand, investor sentiment, and international economic conditions continue to influence precious metal prices in Nepal.