Gold and silver prices witnessed a notable decline in the Nepali market on Wednesday, according to the Federation of Nepal Gold and Silver Dealers' Association.

The price of fine gold dropped by Rs 3,600 per tola to Rs 283,500, compared to Rs 287,100 per tola recorded on Tuesday.

Silver prices also moved lower, falling by Rs 105 per tola to Rs 4,485. A day earlier, silver had been trading at Rs 4,590 per tola.

The decline follows recent weakness in international precious metals markets, where stronger U.S. dollar sentiment and expectations of higher interest rates have weighed on gold and silver prices.

Market analysts note that global economic developments and shifting investor sentiment continue to drive volatility in precious metal prices. As a result, local bullion rates have also experienced significant fluctuations in recent trading sessions