Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Gold and silver prices continued to fall in the Nepali market on Friday, reflecting a fresh correction compared to Thursday’s trading rates. The decline follows volatility in the international bullion market and softer domestic demand.
According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of gold has been fixed at Rs 291,000 per tola today. On Thursday, gold was traded at Rs 295,200 per tola, marking a single-day drop of Rs 4,200 per tola.
Silver prices also recorded a notable decline. The federation set today’s silver price at Rs 4,710 per tola, down from Rs 4,980 per tola on Thursday. This represents a drop of Rs 270 per tola in just one day.
Retreat From Record Highs
Data from the association show that precious metals had reached historic highs on Magh 15 (Thursday), when gold was traded at Rs 339,300 per tola and silver at Rs 7,505 per tola. Since touching those peak levels, both metals have been on a downward trend.
Bullion traders say profit-booking by investors after record highs and weakened consumer purchasing capacity have put pressure on prices. Although the wedding season traditionally supports gold demand in Nepal, exceptionally high price levels in recent weeks have dampened buying enthusiasm among retail customers.
Influence of the International Market
Price movements in Nepal are closely linked to global bullion trends. In the international market today, gold is trading at around USD 4,828 per ounce, while silver stands at approximately USD 74 per ounce, according to market data.
Global gold prices are typically influenced by the strength of the US dollar, signals from the US Federal Reserve regarding interest rates, geopolitical tensions, inflation expectations, and demand for safe-haven assets. Changes in these factors tend to transmit into the Nepali market with a short lag.
Mixed Impact on Consumers and Investors
While falling prices provide some relief to consumers planning jewellery purchases, recent buyers and short-term investors who entered the market at higher levels are facing pressure. Traders note that many investors are adopting a wait-and-see approach due to ongoing volatility.
Market participants say bullion prices may continue to fluctuate sharply in the coming days, as international trends remain uncertain. Until global price direction stabilizes, Nepal’s gold and silver market is also expected to remain volatile.
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