Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The gold price in Nepal recorded a sharp single-day correction on Friday, falling by Rs 20,500 per tola as weakness in the international bullion market filtered into domestic trading, impacting investors, jewellery traders, and bullion dealers across the country.
According to the Federation of Nepal Gold and Silver Dealers’ Association, fine gold is being traded at Rs 318,800 per tola on Friday. A day earlier, gold had surged to Rs 339,300 per tola, meaning the domestic bullion market has witnessed a major reversal within 24 hours amid global price volatility, currency movement, and profit booking by international traders.
The decline comes as global gold prices softened in the international commodities market. Gold is currently trading at around USD 5,200 per ounce, down from USD 5,560 per ounce reached on Thursday. The correction in global precious metal markets has directly influenced the Nepali gold market, which is highly sensitive to international rates and exchange rate fluctuations.
Silver prices also moved downward in the Nepali market, reflecting the broader trend in the global metals trade. The Federation has fixed the silver price at Rs 7,065 per tola, a fall of Rs 440 per tola. On Thursday, silver was traded at Rs 7,505 per tola.
The fall in bullion prices is significant for Nepal’s jewellery sector, gold traders, and retail investors who closely monitor international commodity market trends, US dollar movement, and global inflation expectations. Price corrections of this scale typically influence wedding season demand, physical gold purchases, and investment sentiment in Nepal’s precious metals market.
Nepal’s gold and silver market operates in close alignment with global commodity exchanges, and domestic rates are determined based on international benchmarks, import costs, central bank regulations, and currency conversion. Market analysts note that rapid price swings are becoming more frequent due to geopolitical uncertainty, shifting interest rate outlooks, and speculative activity in global financial markets.
The latest correction may encourage short-term physical buying from consumers and jewellers, while investors remain cautious amid continued volatility in the global gold market, commodities trading, and international financial conditions.
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