Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The price of gold in Nepal has sharply declined by Rs 11,600 per tola after the Tihar festival, reflecting a major correction in both domestic and international markets. According to the Federation of Nepal Gold and Silver Dealers’ Associations (FENEGOSIDA), the price of hallmark gold has been fixed at Rs 241,900 per tola for Sunday.
Before Tihar, on Kartik 3 (October 19), the price of gold had reached Rs 253,500 per tola, marking one of the highest levels in the country’s trading history. This is the first price adjustment after the festival, as the gold market remained closed for several public holidays.
In the international market, gold prices had already fallen by nearly 5 percent on Kartik 4 (October 20). The global rate, which had surged to USD 4,358 per ounce on Asoj 3 (September 19), has now come down to around USD 4,111 per ounce. (One ounce equals approximately 2.43 tolas).
However, the decline was only reflected in Nepal’s market this Sunday due to the extended public holidays. The last record-high price in Nepal was seen on Asoj 31 (October 17) when gold touched Rs 258,000 per tola.
Meanwhile, silver prices have also dipped, dropping by Rs 265 per tola. Before Tihar, silver was traded at Rs 3,280 per tola, but the rate now stands at Rs 3,015 per tola. The highest recorded price for silver in Nepal was Rs 3,350 per tola on Asoj 31.
The recent fall in both gold and silver prices is linked to a stronger U.S. dollar, easing geopolitical concerns, and rising Treasury yields — factors that have weakened global demand for precious metals. Analysts say the domestic bullion market is likely to remain volatile in the coming weeks as international trends and local demand fluctuate post-Tihar.
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