Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Gold and silver prices declined in the domestic market on Monday, with gold recording a sharp fall of Rs 13,400 per tola, according to the Federation of Nepal Gold and Silver Dealers’ Association.
With the latest drop, gold is currently being traded at Rs 286,600 per tola. On Sunday, the precious yellow metal was traded at Rs 300,000 per tola, while last Friday the price had climbed to Rs 318,800 per tola, reflecting a recent period of record highs before the sudden correction.
Silver prices have also moved downward. The federation reported that silver is being traded at Rs 5,200 per tola on Monday. This marks a decline from Rs 5,500 per tola on Sunday and Rs 7,065 per tola last Friday.
The decline in domestic bullion prices follows fluctuations in the international market. According to international media reports, gold is currently trading at around USD 4,900 per ounce in the global market.
Bullion traders say local prices are influenced by international rate movements, the US dollar exchange rate, and changes in demand and supply conditions.
Recent volatility suggests profit booking after sharp gains, along with global market adjustments, has contributed to the price correction in Nepal’s gold and silver market.
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